Insider Selling: Parke Bancorp (NASDAQ:PKBK) COO Sells 1,946 Shares of Stock

Key Points

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Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) COO Ralph Martin Gallo sold 1,946 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $21.89, for a total transaction of $42,597.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Parke Bancorp Price Performance

PKBK traded up $0.06 on Tuesday, reaching $21.40. The stock had a trading volume of 55,057 shares, compared to its average volume of 23,837. The firm has a 50-day moving average of $20.80 and a 200-day moving average of $19.68. The company has a market capitalization of $253.59 million, a price-to-earnings ratio of 8.33 and a beta of 0.64. Parke Bancorp, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $24.29. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.46.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last posted its earnings results 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 company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, July 3rd. This represents a $0.72 annualized dividend and a yield of 3.4%. Parke Bancorp's dividend payout ratio (DPR) is presently 28.02%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Parke Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of PKBK. BNP Paribas Financial Markets raised its stake in Parke Bancorp by 44.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank's stock valued at $66,000 after acquiring an additional 999 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Parke Bancorp by 15.6% during the fourth quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank's stock worth $204,000 after purchasing an additional 1,343 shares in the last quarter. Trexquant Investment LP purchased a new stake in Parke Bancorp during the first quarter valued at about $207,000. Jane Street Group LLC bought a new position in Parke Bancorp during the first quarter valued at approximately $229,000. Finally, Barclays PLC lifted its stake in Parke Bancorp by 16.3% in the fourth quarter. Barclays PLC now owns 15,794 shares of the bank's stock worth $324,000 after purchasing an additional 2,219 shares during the last quarter. 49.69% of the stock is owned by institutional investors.

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.

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