Vito Pantilione Buys 1,000 Shares of Parke Bancorp (NASDAQ:PKBK) Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito Pantilione bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were acquired at an average cost of $27.63 per share, with a total value of $27,630.00. Following the purchase, the chief executive officer directly owned 236,129 shares of the company’s stock, valued at $6,524,244.27. This trade represents a 0.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Parke Bancorp Stock Performance

Shares of PKBK opened at $27.31 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 1.19. Parke Bancorp, Inc. has a one year low of $16.94 and a one year high of $28.22. The stock has a 50-day moving average of $24.95 and a 200-day moving average of $22.77. The company has a market cap of $316.80 million, a PE ratio of 8.64 and a beta of 0.51.

Parke Bancorp (NASDAQ:PKBK) last posted its earnings results on Thursday, January 22nd. The bank reported $0.93 EPS for the quarter. The company had revenue of $22.74 million during the quarter. Parke Bancorp had a net margin of 25.86% and a return on equity of 12.16%.

Parke Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, January 2nd. Parke Bancorp’s dividend payout ratio is presently 22.78%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Parke Bancorp

Several institutional investors have recently made changes to their positions in PKBK. Russell Investments Group Ltd. raised its stake in shares of Parke Bancorp by 66.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock valued at $46,000 after purchasing an additional 855 shares during the period. BNP Paribas Financial Markets grew its stake in Parke Bancorp by 44.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock worth $66,000 after buying an additional 999 shares in the last quarter. CWM LLC grew its position in Parke Bancorp by 251.5% in the third quarter. CWM LLC now owns 3,367 shares of the bank’s stock worth $73,000 after acquiring an additional 2,409 shares in the last quarter. Byrne Asset Management LLC purchased a new position in shares of Parke Bancorp in the 4th quarter worth about $75,000. Finally, Daytona Street Capital LLC purchased a new stake in Parke Bancorp in the fourth quarter worth approximately $163,000. 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-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.