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 D. Hill sold 2,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were 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 in the company, valued at $176,720. This represents a 20.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Parke Bancorp Stock Down 0.1%

Shares of NASDAQ PKBK traded down $0.02 during trading on Friday, hitting $22.55. 41,140 shares of the company traded hands, compared to its average volume of 31,660. The business's fifty day moving average is $21.30 and its 200 day moving average is $19.82. Parke Bancorp, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $24.29. The firm has a market capitalization of $267.22 million, a price-to-earnings ratio of 8.77 and a beta of 0.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.23 and a current ratio of 1.23.

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

Parke Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.72 annualized dividend and a dividend yield of 3.2%. Parke Bancorp's payout ratio is presently 28.02%.

Institutional Investors Weigh In On Parke Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Parke Bancorp by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 522,646 shares of the bank's stock worth $10,720,000 after acquiring an additional 27,354 shares in the last quarter. Ategra Capital Management LLC grew its position in Parke Bancorp by 52.1% in the 4th quarter. Ategra Capital Management LLC now owns 344,741 shares of the bank's stock worth $7,071,000 after purchasing an additional 118,069 shares in the last quarter. Fourthstone LLC grew its position in Parke Bancorp by 243.3% in the 2nd quarter. Fourthstone LLC now owns 200,838 shares of the bank's stock worth $4,091,000 after purchasing an additional 142,334 shares in the last quarter. Militia Capital Partners LP grew its position in Parke Bancorp by 0.8% in the 2nd quarter. Militia Capital Partners LP now owns 118,961 shares of the bank's stock worth $2,423,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its position in Parke Bancorp by 2.4% in the 2nd quarter. Bridgeway Capital Management LLC now owns 110,659 shares of the bank's stock worth $2,254,000 after purchasing an additional 2,549 shares in the last quarter. 49.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

About Parke Bancorp

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.