Insider Buying: Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Acquires 1,000 Shares of Stock

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) CEO Vito S. Pantilione purchased 1,000 shares of the business's stock in a transaction on Thursday, April 25th. The shares were bought at an average price of $16.56 per share, for a total transaction of $16,560.00. Following the acquisition, the chief executive officer now owns 216,760 shares in the company, valued at $3,589,545.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Parke Bancorp Stock Down 0.1 %

NASDAQ PKBK traded down $0.01 during trading hours on Friday, hitting $16.46. 7,022 shares of the company were exchanged, compared to its average volume of 22,283. The company has a 50 day moving average of $16.66 and a two-hundred day moving average of $17.56. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.59. Parke Bancorp, Inc. has a 52-week low of $14.86 and a 52-week high of $20.87. The firm has a market cap of $196.86 million, a price-to-earnings ratio of 8.51 and a beta of 0.79.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last announced its earnings results on Wednesday, January 24th. The bank reported $0.67 earnings per share (EPS) for the quarter. The firm had revenue of $17.00 million during the quarter. Parke Bancorp had a return on equity of 10.99% and a net margin of 19.22%.

Parke Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.72 annualized dividend and a yield of 4.37%. Parke Bancorp's dividend payout ratio is presently 37.31%.

Hedge Funds Weigh In On Parke Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pacific Ridge Capital Partners LLC raised its holdings in shares of Parke Bancorp by 6.6% in the third quarter. Pacific Ridge Capital Partners LLC now owns 363,319 shares of the bank's stock worth $5,918,000 after acquiring an additional 22,554 shares during the last quarter. Cutler Capital Management LLC increased its stake in Parke Bancorp by 0.4% in the fourth quarter. Cutler Capital Management LLC now owns 307,829 shares of the bank's stock valued at $6,234,000 after purchasing an additional 1,373 shares during the last quarter. Brandywine Global Investment Management LLC increased its stake in Parke Bancorp by 1.8% in the third quarter. Brandywine Global Investment Management LLC now owns 78,425 shares of the bank's stock valued at $1,278,000 after purchasing an additional 1,400 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Parke Bancorp by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 67,986 shares of the bank's stock valued at $1,107,000 after purchasing an additional 2,541 shares during the last quarter. Finally, Fulton Bank N.A. acquired a new position in Parke Bancorp in the first quarter valued at $837,000. 49.69% of the stock is 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.