Insider Selling: Parke Bancorp (NASDAQ:PKBK) Insider Sells 14,675 Shares of Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) insider Nicholas Pantilione sold 14,675 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $28.29, for a total value of $415,155.75. Following the completion of the sale, the insider owned 1,850 shares of the company’s stock, valued at approximately $52,336.50. This trade represents a 88.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Parke Bancorp Price Performance

PKBK stock traded up $0.16 during trading hours on Friday, hitting $28.37. 14,446 shares of the stock traded hands, compared to its average volume of 90,375. The stock has a 50-day simple moving average of $26.34 and a 200 day simple moving average of $23.45. The company has a market cap of $329.09 million, a P/E ratio of 8.98 and a beta of 0.53. Parke Bancorp, Inc. has a one year low of $16.94 and a one year high of $29.50. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27.

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

Parke Bancorp Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.5%. Parke Bancorp’s dividend payout ratio is currently 22.78%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Parke Bancorp in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy”.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of 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 acquiring an additional 855 shares in the last quarter. Byrne Asset Management LLC acquired a new position in Parke Bancorp in the 4th quarter worth about $75,000. BNP Paribas Financial Markets raised its stake in shares of Parke Bancorp by 44.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock worth $66,000 after purchasing an additional 999 shares in the last quarter. CWM LLC raised its stake in shares of Parke Bancorp by 251.5% during 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 in the last quarter. Finally, Daytona Street Capital LLC acquired a new stake in shares of Parke Bancorp during the 4th quarter valued at about $163,000. 49.69% of the stock is owned by hedge funds and other institutional investors.

Parke Bancorp Company Profile

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.