Parke Bancorp, Inc. (NASDAQ:PKBK – Get Free Report) 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
Parke Bancorp (NASDAQ:PKBK – Get Free Report) 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.
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