Parke Bancorp (NASDAQ:PKBK) Director Sells $74,624.97 in Stock

Key Points

• Parke Bancorp's director, Jeffrey Kripitz, sold 3,363 shares at an average price of $22.19, totaling $74,624.97, reducing his ownership in the company by 6.56%.
• Parke Bancorp announced a quarterly dividend of $0.18 per share, resulting in an annualized dividend yield of 3.3% at a payout ratio of 28.02%.
• The company's stock has experienced a 1.3% decline recently, trading at $21.95, while analysts have downgraded the stock from a "buy" to a "hold" rating.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) Director Jeffrey H. Kripitz sold 3,363 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $22.19, for a total value of $74,624.97. Following the transaction, the director directly owned 47,911 shares in the company, valued at approximately $1,063,145.09. This represents a 6.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Parke Bancorp Trading Down 0.1%

NASDAQ:PKBK traded down $0.02 during trading hours on Friday, hitting $22.55. 41,140 shares of the stock were exchanged, compared to its average volume of 31,660. The company's 50 day moving average is $21.30 and its two-hundred day moving average is $19.82. Parke Bancorp, Inc. has a twelve month low of $16.94 and a twelve month high of $24.29. 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 company has a market capitalization of $267.22 million, a P/E ratio of 8.77 and a beta of 0.64.

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

Parke Bancorp Announces Dividend

The company also recently disclosed 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 of this dividend was Thursday, July 3rd. This represents a $0.72 annualized dividend and a yield of 3.2%. Parke Bancorp's dividend payout ratio is currently 28.02%.

Wall Street Analyst Weigh In

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

Institutional Trading of Parke Bancorp

A number of hedge funds have recently modified their holdings of PKBK. Dimensional Fund Advisors LP grew its holdings in Parke Bancorp by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 522,646 shares of the bank's stock valued at $10,720,000 after purchasing an additional 27,354 shares during the period. Ategra Capital Management LLC raised its holdings in Parke Bancorp by 52.1% in the fourth 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 during the period. Fourthstone LLC boosted its position in shares of Parke Bancorp by 243.3% during the second 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 holdings in shares of Parke Bancorp by 0.8% in the 2nd quarter. Militia Capital Partners LP now owns 118,961 shares of the bank's stock valued at $2,423,000 after buying an additional 1,000 shares during the period. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Parke Bancorp by 2.4% in the 2nd quarter. Bridgeway Capital Management LLC now owns 110,659 shares of the bank's stock valued at $2,254,000 after buying an additional 2,549 shares during the period. 49.69% of the stock is currently 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.