Insider Buying: Parke Bancorp (NASDAQ:PKBK) CEO Purchases $17,100.00 in Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito Pantilione bought 600 shares of the company’s stock in a transaction on Friday, February 27th. The stock was purchased at an average price of $28.50 per share, with a total value of $17,100.00. Following the completion of the transaction, the chief executive officer directly owned 17,942 shares of the company’s stock, valued at approximately $511,347. The trade was a 3.46% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Parke Bancorp Stock Performance

Shares of PKBK stock opened at $28.00 on Thursday. The firm has a market capitalization of $324.80 million, a price-to-earnings ratio of 8.86 and a beta of 0.52. 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 business’s 50-day moving average price is $26.88 and its 200-day moving average price is $23.91. Parke Bancorp, Inc. has a 12 month low of $16.94 and a 12 month high of $29.50.

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

Parke Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.72 annualized dividend and a dividend yield of 2.6%. Parke Bancorp’s dividend payout ratio (DPR) 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 investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy”.

Institutional Investors Weigh In On Parke Bancorp

Several large investors have recently modified their holdings of the company. Invesco Ltd. bought a new position in Parke Bancorp during the fourth quarter worth $247,000. Empowered Funds LLC boosted its position in Parke Bancorp by 21.9% during the fourth quarter. Empowered Funds LLC now owns 115,728 shares of the bank’s stock valued at $2,877,000 after acquiring an additional 20,756 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Parke Bancorp during the 4th quarter worth about $204,000. Bridgeway Capital Management LLC raised its position in shares of Parke Bancorp by 5.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 118,949 shares of the bank’s stock worth $2,978,000 after acquiring an additional 5,756 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Parke Bancorp by 14.1% in the 4th quarter. AQR Capital Management LLC now owns 42,942 shares of the bank’s stock worth $1,075,000 after acquiring an additional 5,316 shares in the last quarter. 49.69% of the stock is currently owned by institutional investors and hedge funds.

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.