Insider Selling: Parke Bancorp (NASDAQ:PKBK) Director Sells 5,000 Shares of Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) Director Daniel Dalton sold 5,000 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $27.57, for a total value of $137,850.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Parke Bancorp Trading Up 1.8%

NASDAQ:PKBK traded up $0.48 during midday trading on Thursday, reaching $27.48. 24,995 shares of the stock traded hands, compared to its average volume of 83,217. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market capitalization of $318.76 million, a P/E ratio of 8.70 and a beta of 0.51. Parke Bancorp, Inc. has a 12 month low of $16.94 and a 12 month high of $28.22. The company has a fifty day moving average of $24.74 and a 200 day moving average of $22.68.

Parke Bancorp (NASDAQ:PKBK) last released its earnings results on Thursday, January 22nd. The bank reported $0.93 EPS for the quarter. Parke Bancorp had a return on equity of 12.16% and a net margin of 25.86%.The firm had revenue of $22.74 million for the quarter.

Parke Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.6%. Parke Bancorp’s payout ratio is currently 22.78%.

Hedge Funds Weigh In On Parke Bancorp

Large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its position in Parke Bancorp by 66.2% during the third quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after buying an additional 855 shares during the period. Byrne Asset Management LLC acquired a new stake in shares of Parke Bancorp during the 4th quarter valued at about $75,000. BNP Paribas Financial Markets raised its position 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 purchasing an additional 999 shares during the period. CWM LLC grew its position in Parke Bancorp by 251.5% in the 3rd quarter. CWM LLC now owns 3,367 shares of the bank’s stock worth $73,000 after purchasing an additional 2,409 shares during the last quarter. Finally, Daytona Street Capital LLC bought a new stake in shares of Parke Bancorp during the fourth quarter worth $163,000. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Parke Bancorp in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

About Parke Bancorp

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.