Key Points
- CFO Jonathan Hill sold 2,000 Parke Bancorp shares at an average price of $34.96, receiving $69,920. After the transaction, he directly owned just 30 shares, a 98.52% decrease in his holdings.
- Parke Bancorp reported quarterly EPS of $1.03 on $23.89 million in revenue, while raising its quarterly dividend to $0.20 per share, or $0.80 annually, yielding approximately 2.3%.
- Institutional investors own 49.69% of the stock, with several hedge funds increasing or initiating positions. Analyst coverage remains favorable, with the stock carrying a consensus “Buy” rating.
Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) CFO Jonathan Hill sold 2,000 shares of the business'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 value of $69,920.00. Following the sale, the chief financial officer directly owned 30 shares of the company's stock, valued at $1,048.80. This represents a 98.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Parke Bancorp Stock Performance
Shares of Parke Bancorp stock opened at $34.90 on Tuesday. The company has a market cap of $410.42 million, a PE ratio of 9.09 and a beta of 0.47. Parke Bancorp, Inc. has a 52 week low of $19.71 and a 52 week high of $35.70. The business has a 50 day moving average price of $33.16 and a 200-day moving average price of $30.55. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.51.
Parke Bancorp (NASDAQ:PKBK - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.03 earnings per share (EPS) for the quarter. The company had revenue of $23.89 million for the quarter. Parke Bancorp had a return on equity of 13.88% and a net margin of 29.99%.
Parke Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were issued a $0.20 dividend. This is an increase from Parke Bancorp's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, July 2nd. Parke Bancorp's dividend payout ratio is currently 20.83%.
Hedge Funds Weigh In On Parke Bancorp
Hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership raised its stake in shares of Parke Bancorp by 83.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank's stock valued at $7,471,000 after purchasing an additional 119,274 shares during the period. Militia Capital Management LLC bought a new position in Parke Bancorp in the 1st quarter worth about $3,408,000. Sei Investments Co. bought a new position in Parke Bancorp in the 1st quarter worth about $1,602,000. Rhino Investment Partners Inc purchased a new position in Parke Bancorp during the 1st quarter valued at about $6,469,000. Finally, Empirical Finance LLC grew its holdings in 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 hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have commented on PKBK. Weiss Ratings reiterated a "buy (b)" rating on shares of Parke Bancorp in a research note on Wednesday, June 24th. Wall Street Zen raised Parke Bancorp from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy".
Check Out Our Latest Analysis 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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