Insider Selling: Parke Bancorp (NASDAQ:PKBK) CFO Sells 2,000 Shares of Stock

Key Points

• Parke Bancorp CFO Jonathan Hill sold 2,000 shares at an average price of $22.09, reducing his holdings by 20%, and retaining 8,000 shares valued at $176,720.
• The stock has experienced a 1.3% decline, trading at $21.95, and has a market cap of $260.11 million with a price-to-earnings ratio of 8.54.
• Parke Bancorp recently announced a quarterly dividend of $0.18, representing an annualized yield of 3.3% with a payout ratio of 28.02%.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) CFO Jonathan Hill sold 2,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $22.09, for a total transaction of $44,180.00. Following the transaction, the chief financial officer owned 8,000 shares of the company's stock, valued at $176,720. The trade was a 20.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Parke Bancorp Stock Down 1.3%

PKBK traded down $0.30 during trading hours on Monday, hitting $21.95. 75,013 shares of the company's stock were exchanged, compared to its average volume of 24,330. The stock has a market cap of $260.11 million, a price-to-earnings ratio of 8.54 and a beta of 0.64. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.46. The stock's 50-day moving average is $20.96 and its two-hundred day moving average is $19.72. Parke Bancorp, Inc. has a 1-year low of $16.94 and a 1-year high of $24.29.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The bank reported $0.69 EPS for the quarter. The firm had revenue of $18.69 million during the quarter. Parke Bancorp had a net margin of 22.44% and a return on equity of 10.21%.

Parke Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, July 3rd. Parke Bancorp's dividend payout ratio is presently 28.02%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Parke Bancorp from a "buy" rating to a "hold" rating in a report on Saturday, June 7th.

Institutional Trading of Parke Bancorp

Hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new stake in shares of Parke Bancorp during the 4th quarter worth about $617,000. Millennium Management LLC acquired a new stake in shares of Parke Bancorp during the 4th quarter worth about $413,000. Empirical Finance LLC acquired a new stake in shares of Parke Bancorp during the 1st quarter worth about $421,000. Dimensional Fund Advisors LP lifted its stake in shares of Parke Bancorp by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 522,646 shares of the bank's stock worth $10,720,000 after buying an additional 27,354 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Parke Bancorp during the 4th quarter worth about $364,000. Institutional investors and hedge funds own 49.69% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.