Key Points
- Nicholas Pantilione sold 14,675 shares of Parke Bancorp at an average price of $28.29 for a total of $415,155.75, reducing his ownership by 88.8% to 1,850 shares.
- Parke Bancorp trades near $28.50 with a market cap of $330.6M and a P/E of 9.02; the bank reported quarterly EPS of $0.93, a 25.9% net margin and a 12.16% return on equity.
- The company pays a quarterly dividend of $0.18 ($0.72 annualized, ~2.5% yield) and institutional investors own about 49.7% of the stock, with recent sizable purchases by Marex, Fourthstone and Goldman Sachs.
Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) insider Nicholas Pantilione sold 14,675 shares of Parke Bancorp stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $28.29, for a total transaction of $415,155.75. Following the completion of the transaction, the insider directly owned 1,850 shares in the company, valued at approximately $52,336.50. The trade was a 88.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Parke Bancorp Trading Up 1.0%
NASDAQ:PKBK opened at $28.50 on Friday. The firm has a market capitalization of $330.60 million, a P/E ratio of 9.02 and a beta of 0.53. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $26.40 and a 200 day moving average of $23.50. Parke Bancorp, Inc. has a 52 week low of $16.94 and a 52 week high of $29.50.
Parke Bancorp (NASDAQ:PKBK - Get Free Report) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.93 earnings per share (EPS) for the quarter. The business had revenue of $22.74 million for the quarter. Parke Bancorp had a net margin of 25.86% and a return on equity of 12.16%.
Parke Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, January 2nd. Parke Bancorp's payout ratio is currently 22.78%.
Institutional Investors Weigh In On Parke Bancorp
Large investors have recently modified their holdings of the stock. Marex Group plc purchased a new position in shares of Parke Bancorp during the fourth quarter valued at about $11,889,000. Fourthstone LLC grew its holdings in shares of Parke Bancorp by 52.9% during the 4th quarter. Fourthstone LLC now owns 620,899 shares of the bank's stock worth $15,547,000 after acquiring an additional 214,945 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Parke Bancorp by 228.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank's stock worth $1,991,000 after acquiring an additional 73,505 shares during the period. Citadel Advisors LLC bought a new position in shares of Parke Bancorp in the 3rd quarter worth approximately $532,000. Finally, Empowered Funds LLC lifted its stake in shares of Parke Bancorp by 21.9% in the 4th quarter. Empowered Funds LLC now owns 115,728 shares of the bank's stock valued at $2,877,000 after purchasing an additional 20,756 shares during the period. Institutional investors own 49.69% of the company's stock.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a "buy (b-)" rating on shares of Parke Bancorp in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".
View Our Latest Report on PKBK
Parke Bancorp Company Profile
(
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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