Insider Selling: Parke Bancorp, Inc. (NASDAQ:PKBK) Director Sells $20,000.00 in Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) Director Jeffrey H. Kripitz sold 1,000 shares of Parke Bancorp stock in a transaction on Friday, February 7th. The stock was sold at an average price of $20.00, for a total transaction of $20,000.00. Following the sale, the director now directly owns 52,874 shares in the company, valued at approximately $1,057,480. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Parke Bancorp Trading Down 1.6 %

Shares of PKBK opened at $19.65 on Thursday. Parke Bancorp, Inc. has a 52-week low of $15.24 and a 52-week high of $24.29. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The firm’s fifty day moving average is $20.53 and its two-hundred day moving average is $20.78. The stock has a market cap of $233.64 million, a PE ratio of 8.66 and a beta of 0.72.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Friday, January 24th. The bank reported $0.61 earnings per share (EPS) for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.

Parke Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, January 3rd. Parke Bancorp’s dividend payout ratio is currently 31.72%.

Institutional Investors Weigh In On Parke Bancorp

A number of hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Parke Bancorp in the fourth quarter valued at about $426,000. JPMorgan Chase & Co. grew its holdings in shares of Parke Bancorp by 135.8% in the fourth quarter. JPMorgan Chase & Co. now owns 37,926 shares of the bank’s stock valued at $778,000 after purchasing an additional 21,841 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Parke Bancorp by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,324 shares of the bank’s stock valued at $622,000 after purchasing an additional 1,574 shares during the period. Rhumbline Advisers grew its holdings in shares of Parke Bancorp by 5.2% in the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock valued at $318,000 after purchasing an additional 767 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Parke Bancorp by 5.1% in the fourth quarter. Empowered Funds LLC now owns 47,799 shares of the bank’s stock valued at $980,000 after purchasing an additional 2,333 shares during the period. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Parke Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, January 27th.

Parke Bancorp Company Profile

Parke Bancorp, Inc operates as the bank holding company for Parke Bank that provides personal and business financial services to individuals and small to mid-sized businesses. The company offers various deposit products, including checking, savings, time, money market, and individual retirement accounts, as well as certificates of deposit.