Insider Selling: Parke Bancorp (NASDAQ:PKBK) Director Sells 3,363 Shares of 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 Kripitz sold 3,363 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $22.19, for a total transaction of $74,624.97. Following the sale, the director owned 47,911 shares in the company, valued at approximately $1,063,145.09. This trade represents a 6.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Parke Bancorp Stock Down 1.3%

Shares of PKBK stock traded down $0.30 during mid-day trading on Monday, reaching $21.95. 75,013 shares of the company's stock traded hands, compared to its average volume of 24,330. Parke Bancorp, Inc. has a 12 month low of $16.94 and a 12 month high of $24.29. The company has a market cap of $260.11 million, a P/E 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 company's 50-day moving average price is $20.96 and its 200-day moving average price is $19.72.

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

Parke Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Parke Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings 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 valued at $10,720,000 after buying an additional 27,354 shares during the period. Ategra Capital Management LLC lifted its holdings in shares of Parke Bancorp by 52.1% during the 4th quarter. Ategra Capital Management LLC now owns 344,741 shares of the bank's stock valued at $7,071,000 after buying an additional 118,069 shares during the period. Fourthstone LLC lifted its holdings in shares of Parke Bancorp by 243.3% during the 2nd quarter. Fourthstone LLC now owns 200,838 shares of the bank's stock valued at $4,091,000 after buying an additional 142,334 shares during the period. Militia Capital Partners LP lifted its holdings in shares of Parke Bancorp by 0.8% during 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 lifted its holdings in shares of Parke Bancorp by 2.4% during 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 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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