Key Points
- Director Elizabeth Milavsky sold 10,981 shares on December 24 at an average price of $24.71 for a total of $271,340.51, leaving her with 35,278 shares (a 23.74% reduction in her ownership, valued at about $871,719).
- Parke Bancorp declared a quarterly dividend of $0.18 (annualized $0.72) with an ex-dividend date of January 2 and a payment date of January 16, implying a yield of 2.9% and a payout ratio of 25.35%.
- Company fundamentals and sentiment: the stock has a market cap of $290 million and a P/E of 8.8, last reported quarterly EPS was $0.89, and analysts (including Weiss Ratings) and MarketBeat show a consensus rating of "Buy."
Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) Director Elizabeth Milavsky sold 10,981 shares of the business's stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $24.71, for a total value of $271,340.51. Following the transaction, the director owned 35,278 shares of the company's stock, valued at approximately $871,719.38. This represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Parke Bancorp Stock Up 0.8%
PKBK opened at $25.00 on Tuesday. Parke Bancorp, Inc. has a 12 month low of $16.94 and a 12 month high of $25.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market cap of $290 million, a P/E ratio of 8.80 and a beta of 0.53. The stock's 50 day moving average price is $23.00 and its 200 day moving average price is $21.89.
Parke Bancorp (NASDAQ:PKBK - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The bank reported $0.89 earnings per share (EPS) for the quarter. Parke Bancorp had a return on equity of 11.07% and a net margin of 23.95%.The company had revenue of $21.01 million during the quarter.
Parke Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, January 2nd. Parke Bancorp's dividend payout ratio is currently 25.35%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a "buy (b-)" rating on shares of Parke Bancorp in a research report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy".
Get Our Latest Analysis on Parke Bancorp
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Militia Capital Partners LP raised its position in Parke Bancorp by 0.9% in the third quarter. Militia Capital Partners LP now owns 120,000 shares of the bank's stock worth $2,586,000 after acquiring an additional 1,039 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Parke Bancorp in the 3rd quarter worth approximately $532,000. Ategra Capital Management LLC raised its holdings in shares of Parke Bancorp by 1.8% in the 3rd quarter. Ategra Capital Management LLC now owns 440,327 shares of the bank's stock worth $9,489,000 after purchasing an additional 7,627 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Parke Bancorp by 2.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 113,193 shares of the bank's stock worth $2,439,000 after purchasing an additional 2,534 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Parke Bancorp by 29.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 83,638 shares of the bank's stock valued at $1,802,000 after purchasing an additional 19,218 shares during the last quarter. 49.69% of the stock is owned by institutional investors and hedge funds.
About Parke Bancorp
(
Get Free Report)
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.
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