Elizabeth Milavsky Sells 10,981 Shares of Parke Bancorp (NASDAQ:PKBK) Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) Director Elizabeth Milavsky sold 10,981 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $24.71, for a total transaction of $271,340.51. Following the completion of the sale, the director owned 35,278 shares of the company’s stock, valued at $871,719.38. The trade was a 23.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Parke Bancorp Price Performance

Shares of PKBK stock opened at $25.08 on Wednesday. Parke Bancorp, Inc. has a 1 year low of $16.94 and a 1 year high of $25.76. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $23.08 and its 200-day moving average is $21.94. The firm has a market capitalization of $290.93 million, a price-to-earnings ratio of 8.83 and a beta of 0.53.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Wednesday, October 22nd. The bank reported $0.89 earnings per share for the quarter. Parke Bancorp had a net margin of 23.95% and a return on equity of 11.07%. The firm had revenue of $21.01 million during the quarter.

Parke Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, January 2nd. Parke Bancorp’s dividend payout ratio is 25.35%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Parke Bancorp in a report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy”.

Hedge Funds Weigh In On Parke Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Militia Capital Partners LP increased its stake in shares of Parke Bancorp by 0.9% in the 3rd quarter. Militia Capital Partners LP now owns 120,000 shares of the bank’s stock valued at $2,586,000 after acquiring an additional 1,039 shares during the last quarter. Citadel Advisors LLC acquired a new position in Parke Bancorp during the third quarter valued at approximately $532,000. Ategra Capital Management LLC increased its stake in Parke Bancorp by 1.8% in the third quarter. Ategra Capital Management LLC now owns 440,327 shares of the bank’s stock valued at $9,489,000 after purchasing an additional 7,627 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in Parke Bancorp by 2.3% in the third quarter. Bridgeway Capital Management LLC now owns 113,193 shares of the bank’s stock worth $2,439,000 after purchasing an additional 2,534 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Parke Bancorp by 29.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 83,638 shares of the bank’s stock worth $1,802,000 after purchasing an additional 19,218 shares during the period. Institutional investors own 49.69% of the company’s stock.

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.