Jeffrey Kripitz Sells 1,600 Shares of Parke Bancorp (NASDAQ:PKBK) Stock

Key Points

• Jeffrey Kripitz, a director at Parke Bancorp, sold 1,600 shares at an average price of $21.31, reducing his ownership of the stock by 3.03% to 51,274 shares.
• Parke Bancorp's stock fell 1.3% to $21.95, with a market capitalization of $260.11 million and a current ratio of 1.23.
• The company declared a quarterly dividend of $0.18 per share, translating to an annualized dividend of $0.72, with a yield of 3.3% and a payout ratio of 28.02%.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) Director Jeffrey Kripitz sold 1,600 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $21.31, for a total transaction of $34,096.00. Following the sale, the director owned 51,274 shares of the company's stock, valued at approximately $1,092,648.94. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Parke Bancorp Stock Down 1.3%

NASDAQ:PKBK traded down $0.30 on Monday, reaching $21.95. 75,013 shares of the stock traded hands, compared to its average volume of 24,330. The company has a market capitalization of $260.11 million, a price-to-earnings ratio of 8.54 and a beta of 0.64. 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, Inc. has a 12 month low of $16.94 and a 12 month high of $24.29. The company's fifty day simple moving average is $20.96 and its 200 day simple moving average is $19.72.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The bank reported $0.69 EPS 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 during the quarter.

Parke Bancorp Announces Dividend

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 of this dividend was Thursday, July 3rd. This represents a $0.72 annualized dividend and a yield of 3.3%. Parke Bancorp's payout ratio is currently 28.02%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Parke Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in shares of Parke Bancorp by 44.4% during the second quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank's stock worth $66,000 after buying an additional 999 shares in the last quarter. Militia Capital Partners LP grew its position in shares of Parke Bancorp by 0.8% during the second quarter. Militia Capital Partners LP now owns 118,961 shares of the bank's stock worth $2,423,000 after buying an additional 1,000 shares in the last quarter. Rhumbline Advisers grew its position in shares of Parke Bancorp by 7.0% during the second quarter. Rhumbline Advisers now owns 15,969 shares of the bank's stock worth $325,000 after buying an additional 1,051 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Parke Bancorp by 15.6% during the 4th 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 during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Parke Bancorp by 3.4% during the first quarter. Empowered Funds LLC now owns 49,443 shares of the bank's stock worth $932,000 after purchasing an additional 1,644 shares in the last quarter. Institutional investors own 49.69% of the company's stock.

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.

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