Parke Bancorp (NASDAQ:PKBK) Stock: Insider Jonathan Hill Sells 454 Shares

Key Points

• CFO Jonathan Hill sold 454 Parke Bancorp shares for about $14,987, reducing his direct holdings by 93.8% to 30 shares.
• Parke Bancorp reported quarterly earnings of $1.02 per share on $24 million in revenue and pays an annualized dividend of $0.80 per share, a yield of about 2.5%.
• Analyst coverage remained positive: the stock had a consensus Buy rating. Shares traded at $32.29 in Thursday mid-day trading.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) CFO Jonathan Hill sold 454 shares of Parke Bancorp stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $33.01, for a total value of $14,986.54. Following the completion of the sale, the chief financial officer directly owned 30 shares in the company, valued at $990.30. This trade represents a 93.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Parke Bancorp Price Performance

Shares of NASDAQ:PKBK traded down $1.15 during mid-day trading on Thursday, reaching $32.29. The stock had a trading volume of 26,946 shares, compared to its average volume of 71,417. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.51. The company has a market cap of $379.74 million, a P/E ratio of 8.14 and a beta of 0.52. Parke Bancorp, Inc. has a 1 year low of $21.10 and a 1 year high of $35.70. The business's 50 day moving average price is $33.35 and its 200 day moving average price is $31.22.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The bank reported $1.02 earnings per share for the quarter. Parke Bancorp had a return on equity of 14.13% and a net margin of 30.55%. The business had revenue of $24.00 million during the quarter.

Parke Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors 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 dividend on an annualized basis and a dividend yield of 2.5%. Parke Bancorp's dividend payout ratio (DPR) is 20.15%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PKBK shares. Wall Street Zen raised shares of Parke Bancorp from a "hold" rating to a "buy" rating in a research note on Sunday, September 27th. Weiss Ratings reissued a "buy (b)" rating on shares of Parke Bancorp in a research note on Monday, September 21st. One analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Institutional Investors Weigh In On Parke Bancorp

Institutional investors have recently modified their holdings of the stock. Lakewood Asset Management LLC raised its stake in shares of Parke Bancorp by 5.3% in the third quarter. Lakewood Asset Management LLC now owns 17,083 shares of the bank's stock valued at $559,000 after acquiring an additional 853 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Parke Bancorp in the 2nd quarter worth about $221,000. Pale Fire Capital SE purchased a new position in shares of Parke Bancorp during the 2nd quarter worth about $286,000. Susquehanna Fundamental Investments LLC boosted its stake in shares of Parke Bancorp by 53.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 12,543 shares of the bank's stock worth $416,000 after purchasing an additional 4,348 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of Parke Bancorp during the 2nd quarter worth about $331,000. 49.69% of the stock is owned by institutional investors.

About Parke Bancorp

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.

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