Parke Bancorp (NASDAQ:PKBK) Issues Earnings Results

Parke Bancorp (NASDAQ:PKBK - Get Free Report) issued its earnings results on Wednesday. The bank reported $0.69 earnings per share (EPS) for the quarter, Zacks reports. Parke Bancorp had a return on equity of 10.31% and a net margin of 22.44%. The business had revenue of $18.69 million during the quarter.

Parke Bancorp Trading Down 1.1%

Shares of Parke Bancorp stock traded down $0.23 on Friday, hitting $21.67. 7,551 shares of the company's stock traded hands, compared to its average volume of 23,010. Parke Bancorp has a one year low of $16.94 and a one year high of $24.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.24 and a quick ratio of 1.24. The company has a fifty day moving average of $20.07 and a two-hundred day moving average of $19.46. The company has a market capitalization of $256.57 million, a price-to-earnings ratio of 8.43 and a beta of 0.58.

Parke Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.72 annualized dividend and a dividend yield of 3.32%. Parke Bancorp's payout ratio is 29.88%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered 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 made changes to their positions in the business. Jane Street Group LLC bought a new stake in shares of Parke Bancorp during the 1st quarter valued at about $229,000. Empowered Funds LLC boosted its position in shares of Parke Bancorp by 3.4% during the 1st quarter. Empowered Funds LLC now owns 49,443 shares of the bank's stock valued at $932,000 after purchasing an additional 1,644 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Parke Bancorp by 228.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank's stock valued at $1,991,000 after purchasing an additional 73,505 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.