Parke Bancorp (NASDAQ:PKBK) Issues Quarterly Earnings Results

Key Points

• Parke Bancorp reported quarterly earnings of $0.89 per share with a return on equity of 10.21% and a net margin of 22.44%.
• The bank announced a quarterly dividend of $0.18, representing an annualized yield of 3.4%, with a dividend payout ratio of 28.02%.
• Wall Street analysts, including Weiss Ratings, have given Parke Bancorp a rating of "buy (b-)", indicating positive sentiment toward the stock.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) announced its quarterly earnings results on Wednesday. The bank reported $0.89 earnings per share for the quarter, Zacks reports. Parke Bancorp had a return on equity of 10.21% and a net margin of 22.44%.

Parke Bancorp Price Performance

NASDAQ PKBK traded up $0.16 on Wednesday, reaching $20.96. 14,179 shares of the company's stock traded hands, compared to its average volume of 25,030. Parke Bancorp has a 12 month low of $16.94 and a 12 month high of $24.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a 50-day simple moving average of $21.71 and a 200 day simple moving average of $20.48. The stock has a market cap of $248.31 million, a PE ratio of 8.16 and a beta of 0.62.

Parke Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, October 3rd. Parke Bancorp's dividend payout ratio is 28.02%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "buy (b-)" rating on shares of Parke Bancorp in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy".

Insider Buying and Selling at Parke Bancorp

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 3,363 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $22.19, for a total transaction of $74,624.97. Following the transaction, the director directly owned 47,911 shares in the company, valued at $1,063,145.09. This trade represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jonathan D. Hill sold 2,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $22.09, for a total transaction of $44,180.00. Following the transaction, the chief financial officer owned 8,000 shares in the company, valued at $176,720. The trade was a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,909 shares of company stock worth $195,499 over the last ninety days. Insiders own 15.33% of the company's stock.

Institutional Trading of Parke Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Militia Capital Partners LP boosted its stake in shares of Parke Bancorp by 0.8% during the second quarter. Militia Capital Partners LP now owns 118,961 shares of the bank's stock valued at $2,423,000 after purchasing an additional 1,000 shares during the period. BNP Paribas Financial Markets boosted its stake 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 valued at $66,000 after purchasing an additional 999 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of Parke Bancorp by 2.4% during the second quarter. Bridgeway Capital Management LLC now owns 110,659 shares of the bank's stock valued at $2,254,000 after purchasing an additional 2,549 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Parke Bancorp by 46.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 64,420 shares of the bank's stock valued at $1,312,000 after purchasing an additional 20,347 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Parke Bancorp by 7.0% during the second quarter. Rhumbline Advisers now owns 15,969 shares of the bank's stock valued at $325,000 after purchasing an additional 1,051 shares during the period. Hedge funds and other institutional investors 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.

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