Parke Bancorp (NASDAQ:PKBK) Releases Quarterly Earnings Results

Parke Bancorp (NASDAQ:PKBK) issued its quarterly earnings results on Wednesday. The bank reported $1.02 earnings per share (EPS) for the quarter, FiscalAI reports. Parke Bancorp had a net margin of 29.99% and a return on equity of 13.88%. The company had revenue of $24.00 million during the quarter.

Parke Bancorp Price Performance

PKBK opened at $32.82 on Wednesday. The stock has a 50-day moving average price of $33.69 and a 200-day moving average price of $32.35. 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 firm has a market cap of $385.96 million, a PE ratio of 8.55 and a beta of 0.51. Parke Bancorp has a 1 year low of $20.60 and a 1 year high of $35.70.

Parke Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were issued a dividend of $0.20 per share. The ex-dividend date was Friday, October 2nd. This represents a $0.80 annualized dividend and a dividend yield of 2.4%. Parke Bancorp’s dividend payout ratio (DPR) is presently 20.83%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PKBK. Weiss Ratings restated a “buy (b)” rating on shares of Parke Bancorp in a report on Monday, September 21st. Wall Street Zen upgraded 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, Parke Bancorp currently has a consensus rating of “Buy”.

Insider Transactions at Parke Bancorp

In other news, CEO Vito S. Pantilione acquired 1,300 shares of Parke Bancorp stock in a transaction on Wednesday, July 29th. The stock was acquired at an average cost of $33.68 per share, for a total transaction of $43,784.00. Following the purchase, the chief executive officer owned 237,829 shares in the company, valued at $8,010,080.72. 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 can be accessed through the SEC website. Also, CFO Jonathan D. Hill sold 2,000 shares of Parke Bancorp stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $34.96, for a total transaction of $69,920.00. Following the completion of the transaction, the chief financial officer directly owned 30 shares of the company’s stock, valued at $1,048.80. This trade represents a 98.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 12.97% of the company’s stock.

Institutional Investors Weigh In On Parke Bancorp

A number of institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new position in shares of Parke Bancorp in the second quarter worth $221,000. Pale Fire Capital SE purchased a new stake in shares of Parke Bancorp during the second quarter valued at $286,000. Susquehanna Fundamental Investments LLC boosted its position in shares of Parke Bancorp by 53.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 12,543 shares of the bank’s stock valued at $416,000 after buying an additional 4,348 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Parke Bancorp in the 2nd quarter worth about $331,000. Finally, Empowered Funds LLC bought a new stake in Parke Bancorp in the 2nd quarter worth about $5,278,000. Hedge funds and other institutional investors own 49.69% of the company’s stock.

About Parke Bancorp

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-focused commercial bank headquartered in Washington Township, New Jersey. Founded in 1999, the company serves individuals, businesses and organizations in southern New Jersey and the greater Philadelphia metropolitan area.

Parke Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts. Its lending activities include commercial real estate loans, construction and development financing, commercial business loans, residential mortgages and consumer loans.