Jeffrey H. 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 H. Kripitz sold 1,600 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $21.31, for a total transaction of $34,096.00. Following the completion of the transaction, the director owned 51,274 shares in the company, valued at approximately $1,092,648.94. The trade was a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Parke Bancorp Trading Down 0.1%

PKBK stock traded down $0.02 during trading on Friday, hitting $22.55. The company had a trading volume of 41,140 shares, compared to its average volume of 31,660. The firm has a market capitalization of $267.22 million, a P/E ratio of 8.77 and a beta of 0.64. Parke Bancorp, Inc. has a 52-week low of $16.94 and a 52-week high of $24.29. The company has a 50 day simple moving average of $21.30 and a 200-day simple moving average of $19.82. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.46.

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

Parke Bancorp Dividend Announcement

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. This represents a $0.72 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, July 3rd. Parke Bancorp's dividend payout ratio (DPR) is currently 28.02%.

Analyst Ratings Changes

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

Institutional Trading of Parke Bancorp

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in shares of 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 buying an additional 999 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of 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 buying an additional 1,343 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Parke Bancorp in the 1st quarter valued at about $207,000. Jane Street Group LLC bought a new stake in shares of Parke Bancorp in the 1st quarter valued at about $229,000. Finally, Barclays PLC boosted its holdings in shares of 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 buying an additional 2,219 shares in the last quarter. 49.69% of the stock is currently 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.