Insider Buying: Parke Bancorp (NASDAQ:PKBK) CEO Purchases $43,784.00 in Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito Pantilione bought 1,300 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was purchased at an average cost of $33.68 per share, for a total transaction of $43,784.00. Following the transaction, the chief executive officer directly owned 237,829 shares of the company’s stock, valued at $8,010,080.72. The trade was a 0.55% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Parke Bancorp Price Performance

Shares of NASDAQ PKBK opened at $34.15 on Friday. The firm has a market cap of $400.58 million, a P/E ratio of 8.89 and a beta of 0.48. The business’s 50 day moving average is $32.40 and its 200-day moving average is $29.86. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.46. Parke Bancorp, Inc. has a 1-year low of $19.71 and a 1-year high of $34.50.

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

Parke Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were issued a dividend of $0.20 per share. This is an increase from Parke Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, July 2nd. Parke Bancorp’s payout ratio is 20.83%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Parke Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position 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 acquiring an additional 855 shares during the period. Byrne Asset Management LLC grew its holdings in shares of Parke Bancorp by 14.3% during the 2nd quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank’s stock worth $106,000 after purchasing an additional 400 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Parke Bancorp by 44.4% in the second quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock worth $66,000 after purchasing an additional 999 shares during the period. Daytona Street Capital LLC bought a new position in shares of Parke Bancorp in the fourth quarter worth $163,000. Finally, Engineers Gate Manager LP bought a new position in shares of Parke Bancorp in the fourth quarter worth $204,000. 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.