Parke Bancorp (NASDAQ:PKBK) Announces Earnings Results

Parke Bancorp (NASDAQ:PKBK) posted its quarterly earnings data on Wednesday. The bank reported $1.03 EPS for the quarter, FiscalAI reports. The company had revenue of $23.89 million for the quarter. Parke Bancorp had a return on equity of 13.02% and a net margin of 28.04%.

Parke Bancorp Trading Down 1.0%

NASDAQ PKBK opened at $32.41 on Thursday. The stock has a 50-day simple moving average of $31.99 and a 200 day simple moving average of $29.46. The company has a market capitalization of $380.17 million, a PE ratio of 9.26 and a beta of 0.48. 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 has a 12 month low of $19.71 and a 12 month high of $34.47.

Parke Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, July 2nd. Parke Bancorp’s payout ratio is presently 22.86%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parke Bancorp in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Parke Bancorp currently has an average rating of “Buy”.

Insider Transactions at Parke Bancorp

In related news, CEO Vito S. Pantilione bought 1,300 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was bought at an average cost of $30.37 per share, for a total transaction of $39,481.00. Following the transaction, the chief executive officer owned 237,429 shares of the company’s stock, valued at $7,210,718.73. This represents a 0.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PKBK. Fourthstone LLC raised its holdings in Parke Bancorp by 52.9% in the fourth quarter. Fourthstone LLC now owns 620,899 shares of the bank’s stock worth $15,547,000 after purchasing an additional 214,945 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Parke Bancorp by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 599,209 shares of the bank’s stock valued at $17,018,000 after buying an additional 25,168 shares during the period. Marex Group plc bought a new stake in shares of Parke Bancorp in the 4th quarter valued at $11,889,000. Ategra Capital Management LLC raised its stake in Parke Bancorp by 1.8% during the 3rd quarter. Ategra Capital Management LLC now owns 440,327 shares of the bank’s stock worth $9,489,000 after buying an additional 7,627 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Parke Bancorp by 83.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock worth $7,471,000 after buying an additional 119,274 shares during the period. Institutional investors and hedge funds 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.