Insider Buying: Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Purchases 500 Shares of Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito S. Pantilione acquired 500 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $20.88 per share, for a total transaction of $10,440.00. Following the acquisition, the chief executive officer now directly owns 218,260 shares of the company’s stock, valued at $4,557,268.80. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Parke Bancorp Trading Down 2.3 %

Parke Bancorp stock opened at $22.72 on Friday. Parke Bancorp, Inc. has a one year low of $15.24 and a one year high of $23.44. The company’s fifty day moving average price is $20.90 and its two-hundred day moving average price is $18.56. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $272.12 million, a price-to-earnings ratio of 9.75 and a beta of 0.69.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.62 earnings per share (EPS) for the quarter. Parke Bancorp had a return on equity of 9.81% and a net margin of 22.32%. The company had revenue of $15.62 million during the quarter.

Parke Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, October 4th. This represents a $0.72 annualized dividend and a yield of 3.17%. Parke Bancorp’s dividend payout ratio (DPR) is presently 30.90%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 21st.

Hedge Funds Weigh In On Parke Bancorp

A number of institutional investors have recently modified their holdings of PKBK. Fulton Bank N.A. boosted its holdings in shares of Parke Bancorp by 52.1% during the 2nd quarter. Fulton Bank N.A. now owns 73,905 shares of the bank’s stock worth $1,286,000 after buying an additional 25,314 shares during the period. Dimensional Fund Advisors LP lifted its position in Parke Bancorp by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank’s stock worth $8,309,000 after acquiring an additional 22,374 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in Parke Bancorp by 3.9% during the first quarter. Pacific Ridge Capital Partners LLC now owns 371,714 shares of the bank’s stock valued at $6,403,000 after acquiring an additional 14,032 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Parke Bancorp in the first quarter valued at about $198,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Parke Bancorp in the second quarter valued at about $186,000. 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.