Parke Bancorp, Inc. (NASDAQ:PKBK) Director Jeffrey H. Kripitz Sells 10,000 Shares

Parke Bancorp, Inc. (NASDAQ:PKBK) Director Jeffrey H. Kripitz sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $22.77, for a total transaction of $227,700.00. Following the transaction, the director now owns 73,013 shares in the company, valued at approximately $1,662,506.01. The trade was a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Parke Bancorp Stock Performance

Shares of NASDAQ PKBK traded up $0.34 during midday trading on Friday, hitting $23.37. 3,055 shares of the company’s stock were exchanged, compared to its average volume of 22,871. Parke Bancorp, Inc. has a 12 month low of $15.24 and a 12 month high of $23.44. The company’s 50 day moving average price is $21.39 and its 200 day moving average price is $18.97. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $277.87 million, a PE ratio of 9.87 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 for the quarter. Parke Bancorp had a return on equity of 9.75% and a net margin of 22.32%. The business had revenue of $15.62 million during the quarter.

Parke Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.72 dividend on an annualized basis and a yield of 3.08%. Parke Bancorp’s dividend payout ratio (DPR) is presently 30.90%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PKBK. Jane Street Group LLC increased its stake in Parke Bancorp by 6.7% in the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock valued at $293,000 after acquiring an additional 880 shares during the last quarter. Lakewood Asset Management LLC lifted its position in shares of Parke Bancorp by 8.2% during the 3rd quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank’s stock worth $274,000 after buying an additional 997 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Parke Bancorp by 56.3% in the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock valued at $72,000 after buying an additional 1,235 shares in the last quarter. Geode Capital Management LLC grew its position in Parke Bancorp by 0.6% in the third quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock valued at $4,845,000 after acquiring an additional 1,447 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in Parke Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 45,466 shares of the bank’s stock worth $950,000 after acquiring an additional 2,278 shares in the last quarter. Institutional investors and hedge funds 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.