Parke Bancorp, Inc. (NASDAQ:PKBK) Short Interest Up 18.2% in June

Parke Bancorp, Inc. (NASDAQ:PKBK) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 75,200 shares, a growth of 18.2% from the June 15th total of 63,600 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 27,700 shares, the days-to-cover ratio is presently 2.7 days.

Insider Buying and Selling at Parke Bancorp

In other news, Director Jeffrey H. Kripitz sold 6,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $16.95, for a total value of $101,700.00. Following the sale, the director now directly owns 87,013 shares of the company’s stock, valued at approximately $1,474,870.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Parke Bancorp

Hedge funds have recently modified their holdings of the business. Fulton Bank N.A. acquired a new stake in shares of Parke Bancorp in the first quarter valued at about $837,000. SG Americas Securities LLC acquired a new stake in shares of Parke Bancorp in the fourth quarter valued at about $116,000. Cutler Capital Management LLC raised its position in shares of Parke Bancorp by 0.4% in the fourth quarter. Cutler Capital Management LLC now owns 307,829 shares of the bank’s stock valued at $6,234,000 after buying an additional 1,373 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Parke Bancorp by 1,925.4% in the fourth quarter. International Assets Investment Management LLC now owns 2,471 shares of the bank’s stock valued at $50,000 after buying an additional 2,349 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Parke Bancorp by 1.1% in the first quarter. Vanguard Group Inc. now owns 514,393 shares of the bank’s stock valued at $8,860,000 after buying an additional 5,698 shares during the last quarter. 49.69% of the stock is currently owned by institutional investors and hedge funds.

Parke Bancorp Price Performance

NASDAQ:PKBK traded up $0.47 during trading hours on Monday, reaching $17.95. 34,984 shares of the company were exchanged, compared to its average volume of 25,002. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.48. The stock’s 50-day moving average is $16.26 and its 200-day moving average is $16.95. The firm has a market cap of $214.68 million, a PE ratio of 9.30 and a beta of 0.70. Parke Bancorp has a twelve month low of $15.16 and a twelve month high of $20.87.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.51 earnings per share for the quarter. The company had revenue of $15.12 million during the quarter. Parke Bancorp had a net margin of 19.22% and a return on equity of 10.91%.

Parke Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, July 5th. Parke Bancorp’s dividend payout ratio (DPR) is 37.31%.

Parke Bancorp Company Profile

Parke Bancorp, Inc operates as the bank holding company for Parke Bank that provides personal and business financial services to individuals and small to mid-sized businesses. The company offers various deposit products, including checking, savings, time, money market, and individual retirement accounts, as well as certificates of deposit.