Parke Bancorp, Inc. (NASDAQ:PKBK) to Issue $0.18 Quarterly Dividend

Parke Bancorp, Inc. (NASDAQ:PKBK) announced a quarterly dividend on Wednesday, December 18th,RTT News reports. Stockholders of record on Friday, January 3rd will be given a dividend of 0.18 per share by the bank on Friday, January 17th. This represents a $0.72 annualized dividend and a dividend yield of 3.39%.

Parke Bancorp has raised its dividend payment by an average of 4.8% annually over the last three years.

Parke Bancorp Price Performance

NASDAQ PKBK traded down $0.93 during trading hours on Wednesday, reaching $21.21. The company’s stock had a trading volume of 46,423 shares, compared to its average volume of 23,525. The firm has a market capitalization of $252.08 million, a price-to-earnings ratio of 9.10 and a beta of 0.71. The company’s 50-day moving average is $22.21 and its two-hundred day moving average is $19.84. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. Parke Bancorp has a 1-year low of $15.24 and a 1-year high of $24.29.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Friday, October 18th. The bank reported $0.62 earnings per share for the quarter. Parke Bancorp had a return on equity of 9.75% and a net margin of 22.32%. The business had revenue of $15.62 million during the quarter.

Insiders Place Their Bets

In other Parke Bancorp news, Chairman Daniel J. Dalton sold 5,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $20.96, for a total value of $104,800.00. Following the completion of the sale, the chairman now owns 71,319 shares in the company, valued at approximately $1,494,846.24. This represents a 6.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey H. Kripitz sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $22.77, for a total value of $227,700.00. Following the transaction, the director now owns 73,013 shares in the company, valued at approximately $1,662,506.01. This represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.52% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, October 21st.

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.