Parke Bancorp, Inc. (NASDAQ:PKBK – Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 67,800 shares, a drop of 19.4% from the September 15th total of 84,100 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 20,400 shares, the short-interest ratio is presently 3.3 days.
Insider Activity
In related news, COO Ralph Martin Gallo sold 7,700 shares of Parke Bancorp stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $19.63, for a total transaction of $151,151.00. Following the transaction, the chief operating officer now owns 404 shares of the company’s stock, valued at $7,930.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.33% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of PKBK. BNP Paribas Financial Markets lifted its stake in Parke Bancorp by 80.1% in the 1st quarter. BNP Paribas Financial Markets now owns 5,195 shares of the bank’s stock valued at $89,000 after acquiring an additional 2,310 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Parke Bancorp in the second quarter valued at approximately $186,000. Quadrature Capital Ltd bought a new stake in shares of Parke Bancorp in the first quarter worth $198,000. Lakewood Asset Management LLC lifted its position in shares of Parke Bancorp by 8.2% in the third quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank’s stock worth $274,000 after purchasing an additional 997 shares in the last quarter. Finally, Fulton Bank N.A. acquired a new position in Parke Bancorp during the first quarter worth $837,000. 49.69% of the stock is currently owned by institutional investors.
Parke Bancorp Trading Up 3.4 %
Parke Bancorp (NASDAQ:PKBK – Get Free Report) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.53 EPS for the quarter. The business had revenue of $31.39 million for the quarter. Parke Bancorp had a net margin of 17.49% and a return on equity of 10.19%.
Parke Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.72 annualized dividend and a dividend yield of 3.47%. Parke Bancorp’s dividend payout ratio is currently 40.22%.
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.
See Also
- Five stocks we like better than Parke Bancorp
- What does consumer price index measure?
- Why Fastenal Stock Could Hit New Highs After Strong Q3 Results
- Profitably Trade Stocks at 52-Week Highs
- Why Eli Lilly Stock Is Soaring—and How It Plans to Stay on Top
- What Are Trending Stocks? Trending Stocks Explained
- 3 Mid-Cap Stocks Under $20 With Insider Buying and Major Upside
Receive News & Ratings for Parke Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parke Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.