Parke Bancorp (NASDAQ:PKBK) COO Ralph Martin Gallo Sells 1,946 Shares

Key Points

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Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) COO Ralph Martin Gallo sold 1,946 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $21.89, for a total value of $42,597.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Parke Bancorp Trading Up 4.7%

Shares of NASDAQ:PKBK traded up $1.00 during midday trading on Friday, reaching $22.25. 60,579 shares of the company's stock were exchanged, compared to its average volume of 27,336. The firm's 50 day simple moving average is $20.96 and its two-hundred day simple moving average is $19.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market cap of $263.66 million, a price-to-earnings ratio of 8.66 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.

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

Parke Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded 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

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position 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 in the last quarter. Wells Fargo & Company MN grew its position in Parke Bancorp by 15.6% in the 4th quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank's stock valued at $204,000 after acquiring an additional 1,343 shares in the last quarter. Trexquant Investment LP acquired a new position in Parke Bancorp in the 1st quarter valued at about $207,000. Jane Street Group LLC acquired a new position in Parke Bancorp in the 1st quarter valued at about $229,000. Finally, Barclays PLC grew its position in Parke Bancorp by 16.3% in the 4th quarter. Barclays PLC now owns 15,794 shares of the bank's stock valued at $324,000 after acquiring an additional 2,219 shares in the last quarter. 49.69% of the stock is owned by institutional investors and hedge funds.

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.