Key Points
- CEO Vito Pantilione bought 1,300 Parke Bancorp shares at an average price of $32.86, investing $42,718 and increasing his ownership by 0.55% to 239,629 shares.
- Parke Bancorp reported quarterly EPS of $1.02 on $24.0 million in revenue, with a 14.13% return on equity and a 30.55% net margin.
- The bank pays a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 dividend and a 2.5% yield; analysts tracked by MarketBeat give the stock an average “Buy” rating.
Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) CEO Vito Pantilione purchased 1,300 shares of the company's stock in a transaction on Thursday, October 29th. The stock was purchased at an average price of $32.86 per share, with a total value of $42,718.00. Following the completion of the transaction, the chief executive officer owned 239,629 shares of the company's stock, valued at approximately $7,874,208.94. This trade represents a 0.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Parke Bancorp Trading Down 1.1%
PKBK stock opened at $32.58 on Friday. Parke Bancorp, Inc. has a 1-year low of $21.10 and a 1-year high of $35.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $383.17 million, a price-to-earnings ratio of 8.21 and a beta of 0.51. The business has a 50 day simple moving average of $33.40 and a two-hundred day simple moving average of $31.10.
Parke Bancorp (NASDAQ:PKBK - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The bank reported $1.02 EPS for the quarter. The company 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 Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, October 2nd. Parke Bancorp's payout ratio is presently 20.15%.
Hedge Funds Weigh In On Parke Bancorp
Several hedge funds and other institutional investors have recently made changes to their positions in PKBK. Byrne Asset Management LLC lifted its holdings in Parke Bancorp by 14.3% in the second 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. Lakewood Asset Management LLC grew its stake in shares of Parke Bancorp by 5.3% in the third quarter. Lakewood Asset Management LLC now owns 17,083 shares of the bank's stock valued at $559,000 after buying an additional 853 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Parke Bancorp in the second quarter valued at approximately $31,000. Bank of America Corp DE boosted its position 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 valued at $264,000 after buying an additional 1,008 shares during the period. Finally, Algert Global LLC grew its stake in Parke Bancorp by 14.4% during the 2nd quarter. Algert Global LLC now owns 8,126 shares of the bank's stock worth $269,000 after purchasing an additional 1,020 shares in the last quarter. Hedge funds and other institutional investors own 49.69% of the company's stock.
Analyst Ratings Changes
A number of brokerages have commented on PKBK. Weiss Ratings restated a "buy (b)" rating on shares of Parke Bancorp in a research note on Monday, September 21st. Wall Street Zen raised shares of Parke Bancorp from a "hold" rating to a "buy" rating in a report on Sunday, September 27th. One equities research 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 Research Report on Parke Bancorp
Parke Bancorp Company Profile
(
Get Free Report)
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.
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