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

Key Points

• CEO Vito Pantilione purchased 1,300 Parke Bancorp shares at an average price of $33.68, investing $43,784 and increasing his direct ownership to 237,829 shares.
• Parke Bancorp reported quarterly earnings of $1.03 per share on $23.89 million in revenue, with a 14.11% return on equity and a 29.99% net margin.
• The company raised its quarterly dividend from $0.18 to $0.20 per share, equivalent to an annualized $0.80 payout and a 2.4% yield; analysts maintain a consensus “Buy” rating.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) CEO Vito Pantilione purchased 1,300 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were acquired at an average price of $33.68 per share, for a total transaction of $43,784.00. Following the purchase, the chief executive officer directly owned 237,829 shares in the company, valued at approximately $8,010,080.72. The trade was a 0.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Parke Bancorp Stock Performance

Shares of NASDAQ:PKBK traded down $0.13 during midday trading on Thursday, hitting $33.73. The company had a trading volume of 20,727 shares, compared to its average volume of 84,542. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $395.65 million, a price-to-earnings ratio of 8.78 and a beta of 0.48. Parke Bancorp, Inc. has a 12-month low of $19.71 and a 12-month high of $34.50. The company has a fifty day moving average of $32.29 and a two-hundred day moving average of $29.76.

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

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 is a boost from Parke Bancorp's previous quarterly dividend of $0.18. The ex-dividend date was Thursday, July 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.4%. Parke Bancorp's dividend payout ratio is presently 20.83%.

Institutional Investors Weigh In On Parke Bancorp

A number of institutional investors have recently bought and sold shares of the business. Byrne Asset Management LLC lifted its position in shares of Parke Bancorp by 14.3% in the second quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank's stock valued at $106,000 after acquiring an additional 400 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Parke Bancorp by 66.2% during the third quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank's stock worth $46,000 after purchasing an additional 855 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Parke Bancorp by 44.4% during 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 in the last quarter. Militia Capital Partners LP raised its stake in Parke Bancorp by 0.8% during the 2nd quarter. Militia Capital Partners LP now owns 118,961 shares of the bank's stock valued at $2,423,000 after purchasing an additional 1,000 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Parke Bancorp by 12.2% in the 1st quarter. Bank of America Corp DE now owns 9,288 shares of the bank's stock worth $264,000 after purchasing an additional 1,008 shares in the last quarter. Hedge funds and other institutional investors own 49.69% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parke Bancorp in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy".

About Parke Bancorp

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.

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