Vito S. Pantilione Purchases 600 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK) Stock

Key Points

• CEO Vito S. Pantilione of Parke Bancorp, Inc. purchased 600 shares of the company's stock at $20.89 per share, increasing his total holdings to 16,142 shares.
• Parke Bancorp announced a quarterly dividend of $0.18 paid on July 18th, resulting in an annualized dividend yield of 3.3%.
• Institutional investors have increased their stakes in Parke Bancorp, with hedge funds and other institutions now owning 49.69% of the company's stock.

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) CEO Vito S. Pantilione bought 600 shares of the stock in a transaction on Thursday, July 31st. The shares were acquired at an average cost of $20.89 per share, for a total transaction of $12,534.00. Following the purchase, the chief executive officer owned 16,142 shares in the company, valued at $337,206.38. The trade was a 3.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Parke Bancorp Trading Down 1.4%

Shares of PKBK stock traded down $0.31 on Friday, hitting $21.40. 15,163 shares of the stock traded hands, compared to its average volume of 24,493. The firm's 50-day moving average price is $20.76 and its two-hundred day moving average price is $19.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $253.59 million, a PE ratio of 8.33 and a beta of 0.64. Parke Bancorp, Inc. has a twelve month low of $16.94 and a twelve month high of $24.29.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last posted its 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 company had revenue of $18.69 million for the quarter.

Parke Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 3.4%. Parke Bancorp's dividend payout ratio is presently 28.02%.

Analyst Upgrades and Downgrades

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 Inflows and Outflows

A number of large investors have recently bought and sold shares of PKBK. BNP Paribas Financial Markets lifted 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 purchasing an additional 999 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Parke Bancorp by 15.6% during the fourth 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 in the last quarter. Trexquant Investment LP acquired a new stake in shares of Parke Bancorp during the first quarter worth about $207,000. Jane Street Group LLC acquired a new stake in shares of Parke Bancorp during the first quarter worth about $229,000. Finally, Barclays PLC lifted its position in shares of Parke Bancorp by 16.3% during the fourth quarter. Barclays PLC now owns 15,794 shares of the bank's stock worth $324,000 after purchasing an additional 2,219 shares in the last quarter. Institutional investors and hedge funds own 49.69% of the company's stock.

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.