Key Points
- CEO insider buying: Vito Pantilione purchased 1,300 Parke Bancorp shares for $43,784, increasing his ownership by 0.55% to 237,829 shares.
- Solid quarterly results: Parke Bancorp reported quarterly EPS of $1.03 on $23.89 million in revenue, with a 14.11% return on equity and a 29.99% net margin.
- Higher dividend and positive sentiment: The bank raised its quarterly dividend to $0.20 per share, implying a 2.4% yield, while analysts maintained a consensus “Buy” rating.
Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) CEO Vito Pantilione purchased 1,300 shares of the business's stock in a transaction on Wednesday, July 29th. The stock was bought at an average cost of $33.68 per share, with a total value of $43,784.00. Following the purchase, the chief executive officer owned 237,829 shares in the company, valued at approximately $8,010,080.72. This represents a 0.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Parke Bancorp Price Performance
Shares of NASDAQ:PKBK opened at $33.77 on Friday. The company's fifty day moving average price is $32.35 and its 200-day moving average price is $29.83. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $396.16 million, a price-to-earnings ratio of 8.79 and a beta of 0.48. Parke Bancorp, Inc. has a one year low of $19.71 and a one year high of $34.50.
Parke Bancorp (NASDAQ:PKBK - Get Free Report) last released its earnings results on Wednesday, July 22nd. The bank reported $1.03 EPS for the quarter. Parke Bancorp had a return on equity of 14.11% and a net margin of 29.99%.The business had revenue of $23.89 million for the quarter.
Parke Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, July 2nd. This is an increase from Parke Bancorp's previous quarterly dividend of $0.18. Parke Bancorp's dividend payout ratio (DPR) is currently 20.83%.
Institutional Trading of Parke Bancorp
Hedge funds have recently added to or reduced their stakes in the business. Byrne Asset Management LLC lifted its stake in shares of Parke Bancorp by 14.3% in the 2nd quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank's stock valued at $106,000 after acquiring an additional 400 shares during the last quarter. Militia Capital Management LLC bought a new position in Parke Bancorp during the 1st quarter worth approximately $3,408,000. Bank of America Corp DE increased its stake in Parke Bancorp by 12.2% in the 1st quarter. Bank of America Corp DE now owns 9,288 shares of the bank's stock worth $264,000 after purchasing an additional 1,008 shares during the period. Rhino Investment Partners Inc purchased a new position in Parke Bancorp in the 1st quarter worth approximately $6,469,000. Finally, Empowered Funds LLC lifted its position in Parke Bancorp by 46.6% in the first quarter. Empowered Funds LLC now owns 169,683 shares of the bank's stock valued at $4,819,000 after purchasing an additional 53,955 shares during the last quarter. 49.69% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Parke Bancorp in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy".
Check Out Our Latest Analysis on Parke Bancorp
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
