Parke Bancorp (NASDAQ:PKBK) Stock: Insider Jonathan Hill Sells 454 Shares

Parke Bancorp, Inc. (NASDAQ:PKBK) CFO Jonathan Hill sold 454 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $33.01, for a total value of $14,986.54. Following the sale, the chief financial officer owned 30 shares of the company’s stock, valued at approximately $990.30. This represents a 93.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Parke Bancorp Stock Performance

NASDAQ PKBK opened at $32.62 on Friday. The business’s 50 day moving average is $33.31 and its two-hundred day moving average is $31.29. The stock has a market capitalization of $383.61 million, a price-to-earnings ratio of 8.22 and a beta of 0.52. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.51. Parke Bancorp, Inc. has a 12-month low of $21.10 and a 12-month high of $35.70.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Wednesday, October 21st. The bank reported $1.02 earnings per share (EPS) for the quarter. The firm had revenue of $24.00 million during the quarter. Parke Bancorp had a return on equity of 14.13% and a net margin of 30.55%.

Parke Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were paid a $0.20 dividend. The ex-dividend date was Friday, October 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.5%. Parke Bancorp’s dividend payout ratio (DPR) is presently 20.15%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PKBK. Weiss Ratings reissued a “buy (b)” rating on shares of Parke Bancorp in a research note on Monday, September 21st. Wall Street Zen downgraded shares of Parke Bancorp from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat, the company has an average rating of “Buy”.

Hedge Funds Weigh In On Parke Bancorp

Several hedge funds have recently bought and sold shares of PKBK. Russell Investments Group Ltd. grew its holdings in shares of Parke Bancorp by 58.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,830 shares of the bank’s stock worth $354,000 after acquiring an additional 3,983 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Parke Bancorp by 8.8% in the third quarter. Ritholtz Wealth Management now owns 20,816 shares of the bank’s stock valued at $681,000 after purchasing an additional 1,678 shares during the last quarter. Lakewood Asset Management LLC grew its holdings in shares of Parke Bancorp by 5.3% during the 3rd quarter. Lakewood Asset Management LLC now owns 17,083 shares of the bank’s stock valued at $559,000 after purchasing an additional 853 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Parke Bancorp during the second quarter valued at approximately $221,000. Finally, Pale Fire Capital SE bought a new stake in Parke Bancorp during the 2nd quarter valued at approximately $286,000. 49.69% of the stock is owned by hedge funds and other institutional investors.

About Parke Bancorp

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community bank headquartered in Sewell, New Jersey. Through Parke Bank, the company provides banking and financial services to individuals, businesses and organizations in southern New Jersey and the greater Philadelphia area.

Parke Bank’s products and services include checking and savings accounts, certificates of deposit, online and mobile banking, residential mortgages, home equity financing, consumer loans and commercial lending.