Parke Bancorp (NASDAQ:PKBK) CEO Vito Pantilione Purchases 1,300 Shares

Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito Pantilione purchased 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were bought at an average price of $33.68 per share, with a total value of $43,784.00. Following the acquisition, the chief executive officer directly owned 237,829 shares of the company’s stock, valued at $8,010,080.72. This represents a 0.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Parke Bancorp Price Performance

PKBK opened at $33.77 on Friday. Parke Bancorp, Inc. has a 1 year low of $19.71 and a 1 year high of $34.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $396.16 million, a price-to-earnings ratio of 8.79 and a beta of 0.48. The firm’s fifty day moving average price is $32.35 and its two-hundred day moving average price is $29.83.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.03 EPS for the quarter. Parke Bancorp had a net margin of 29.99% and a return on equity of 14.11%. The company had revenue of $23.89 million during the quarter.

Parke Bancorp Increases Dividend

The firm 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 a boost from Parke Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, July 2nd. Parke Bancorp’s dividend payout ratio is currently 20.83%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Parke Bancorp in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Parke Bancorp has a consensus rating of “Buy”.

Institutional Trading of Parke Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in shares of Parke Bancorp by 66.2% in the third quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after purchasing an additional 855 shares during the period. BNP Paribas Financial Markets boosted its stake in Parke Bancorp by 44.4% during the second quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock valued at $66,000 after buying an additional 999 shares during the period. Byrne Asset Management LLC grew its position in Parke Bancorp by 14.3% during the second quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank’s stock worth $106,000 after buying an additional 400 shares in the last quarter. Daytona Street Capital LLC purchased a new position in Parke Bancorp during the fourth quarter worth about $163,000. Finally, Engineers Gate Manager LP purchased a new position in Parke Bancorp during the fourth quarter worth about $204,000. 49.69% of the stock is currently owned by institutional investors.

Parke Bancorp Company Profile

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.