Jonathan Hill Sells 2,000 Shares of Parke Bancorp (NASDAQ:PKBK) Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CFO Jonathan Hill sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $34.96, for a total transaction of $69,920.00. Following the completion of the sale, the chief financial officer owned 30 shares in the company, valued at $1,048.80. This represents a 98.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Parke Bancorp Price Performance

NASDAQ PKBK opened at $35.07 on Wednesday. The stock has a market capitalization of $412.42 million, a price-to-earnings ratio of 9.13 and a beta of 0.47. Parke Bancorp, Inc. has a 1-year low of $19.71 and a 1-year high of $35.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.25 and a quick ratio of 1.25. The business’s fifty day moving average price is $33.23 and its 200-day moving average price is $30.61.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.03 EPS for the quarter. Parke Bancorp had a return on equity of 13.88% and a net margin of 29.99%.The company had revenue of $23.89 million during the quarter.

Parke Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were paid a $0.20 dividend. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, July 2nd. This represents a $0.80 annualized dividend and a dividend yield of 2.3%. Parke Bancorp’s dividend payout ratio (DPR) is currently 20.83%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PKBK shares. Wall Street Zen raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parke Bancorp in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Parke Bancorp presently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PKBK. Arrowstreet Capital Limited Partnership boosted its position in shares of Parke Bancorp by 83.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock worth $7,471,000 after purchasing an additional 119,274 shares during the period. Militia Capital Management LLC bought a new stake in shares of Parke Bancorp during the 1st quarter valued at $3,408,000. Sei Investments Co. bought a new stake in shares of Parke Bancorp during the 1st quarter valued at $1,602,000. Rhino Investment Partners Inc purchased a new position in shares of Parke Bancorp during the 1st quarter valued at $6,469,000. Finally, Empirical Finance LLC lifted its stake in shares of Parke Bancorp by 86.6% during the 1st quarter. Empirical Finance LLC now owns 103,454 shares of the bank’s stock valued at $2,938,000 after buying an additional 48,008 shares in the last quarter. 49.69% of the stock is currently owned by institutional investors.

About Parke Bancorp

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.