Insider Selling: Parke Bancorp (NASDAQ:PKBK) CFO Sells $14,986.54 in Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CFO Jonathan Hill sold 454 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $33.01, for a total value of $14,986.54. Following the sale, the chief financial officer owned 30 shares of the company’s stock, valued at $990.30. This trade represents a 93.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Parke Bancorp Price Performance

Shares of NASDAQ PKBK opened at $32.62 on Friday. The stock has a fifty day moving average price of $33.31 and a 200 day moving average price of $31.29. Parke Bancorp, Inc. has a 1-year low of $21.10 and a 1-year high of $35.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.26 and a quick ratio of 1.25. The company has a market cap of $384.26 million, a PE ratio of 8.22 and a beta of 0.52.

Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings data on Wednesday, October 21st. The bank reported $1.02 earnings per share (EPS) for the quarter. The company had revenue of $24.00 million for the quarter. Parke Bancorp had a net margin of 30.55% and a return on equity of 13.91%.

Parke Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. Parke Bancorp’s payout ratio is presently 20.15%.

Institutional Trading of Parke Bancorp

A number of institutional investors have recently modified their holdings of PKBK. Russell Investments Group Ltd. increased its holdings in shares of Parke Bancorp by 58.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,830 shares of the bank’s stock valued at $354,000 after purchasing an additional 3,983 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Parke Bancorp by 8.8% during the third quarter. Ritholtz Wealth Management now owns 20,816 shares of the bank’s stock worth $681,000 after buying an additional 1,678 shares in the last quarter. Lakewood Asset Management LLC boosted its holdings in Parke Bancorp by 5.3% during the third quarter. Lakewood Asset Management LLC now owns 17,083 shares of the bank’s stock worth $559,000 after buying an additional 853 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Parke Bancorp during the second quarter worth about $221,000. Finally, Pale Fire Capital SE acquired a new position in Parke Bancorp during the second quarter worth about $286,000. 49.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on PKBK shares. Weiss Ratings reissued a “buy (b)” rating on shares of Parke Bancorp in a report on Monday, September 21st. Wall Street Zen downgraded shares of Parke Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, Parke Bancorp presently has an average rating of “Buy”.

Parke Bancorp Company Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community bank headquartered in Sewell, New Jersey. Through Parke Bank, the company provides banking and financial services to individuals, businesses and organizations in southern New Jersey and the greater Philadelphia area.

Parke Bank’s products and services include checking and savings accounts, certificates of deposit, online and mobile banking, residential mortgages, home equity financing, consumer loans and commercial lending.