Jonathan Hill Sells 2,000 Shares of Parke Bancorp (NASDAQ:PKBK) Stock

Key Points

• CFO Jonathan Hill sold 2,000 Parke Bancorp shares at an average price of $34.96, generating $69,920; his remaining position fell to just 30 shares, a 98.52% decrease.
• Parke Bancorp reported quarterly EPS of $1.03 on $23.89 million in revenue, with a 29.99% net margin and 13.88% return on equity.
• The company raised its quarterly dividend to $0.20 from $0.18, implying an annualized payout of $0.80 and a 2.3% yield; analysts maintain a consensus “Buy” rating.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) CFO Jonathan Hill sold 2,000 shares of Parke Bancorp stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.96, for a total transaction of $69,920.00. Following the completion of the transaction, the chief financial officer owned 30 shares of the company's stock, valued at $1,048.80. This trade represents a 98.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Parke Bancorp Stock Down 0.2%

NASDAQ PKBK traded down $0.06 during trading hours on Monday, hitting $35.08. 3,815 shares of the company were exchanged, compared to its average volume of 81,031. Parke Bancorp, Inc. has a 52-week low of $19.71 and a 52-week high of $35.70. The company has a 50 day moving average of $33.09 and a two-hundred day moving average of $30.50. The firm has a market cap of $412.48 million, a price-to-earnings ratio of 9.13 and a beta of 0.47. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.51.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The bank reported $1.03 EPS for the quarter. The firm had revenue of $23.89 million during the quarter. Parke Bancorp had a net margin of 29.99% and a return on equity of 13.88%.

Parke Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were paid a $0.20 dividend. This is a boost from Parke Bancorp's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, July 2nd. Parke Bancorp's payout ratio is currently 20.83%.

Institutional Trading of Parke Bancorp

A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in shares of Parke Bancorp during the second quarter worth $31,000. Russell Investments Group Ltd. increased its position in shares of Parke Bancorp by 66.2% in the third quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank's stock worth $46,000 after acquiring an additional 855 shares in the last quarter. Byrne Asset Management LLC increased its holdings in Parke Bancorp by 14.3% in the 2nd quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank's stock valued at $106,000 after purchasing an additional 400 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Parke Bancorp by 44.4% in the second 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. Finally, Ieq Capital LLC acquired a new stake in Parke Bancorp in the second quarter valued at approximately $268,000. Institutional investors and hedge funds own 49.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Parke Bancorp in a research note on Wednesday, June 24th. Wall Street Zen upgraded Parke Bancorp from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Parke Bancorp currently has a consensus rating of "Buy".

Parke Bancorp Company Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.

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