Parke Bancorp (NASDAQ:PKBK) Posts Earnings Results

Parke Bancorp (NASDAQ:PKBK) issued its earnings results on Wednesday. The bank reported $1.03 earnings per share for the quarter, FiscalAI reports. Parke Bancorp had a net margin of 28.04% and a return on equity of 13.02%. The firm had revenue of $23.89 million for the quarter.

Parke Bancorp Stock Up 0.5%

Parke Bancorp stock opened at $32.74 on Wednesday. The firm has a 50 day moving average price of $31.94 and a two-hundred day moving average price of $29.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.25 and a current ratio of 1.25. Parke Bancorp has a 52-week low of $19.71 and a 52-week high of $34.47. The firm has a market cap of $384.07 million, a price-to-earnings ratio of 9.35 and a beta of 0.48.

Parke Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.4%. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.18. Parke Bancorp’s payout ratio is currently 22.86%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Parke Bancorp in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Insider Transactions at Parke Bancorp

In other Parke Bancorp news, CEO Vito S. Pantilione bought 1,300 shares of the stock in a transaction on Tuesday, April 28th. The stock was acquired at an average cost of $30.37 per share, for a total transaction of $39,481.00. Following the completion of the acquisition, the chief executive officer owned 237,429 shares in the company, valued at $7,210,718.73. This trade represents a 0.55% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 12.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Parke Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Panagora Asset Management Inc. acquired a new position in Parke Bancorp during the 4th quarter worth approximately $221,000. BNP Paribas Financial Markets increased its holdings in shares of Parke Bancorp by 44.4% during the second quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock valued at $66,000 after acquiring an additional 999 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Parke Bancorp during the first quarter valued at approximately $1,602,000. Dimensional Fund Advisors LP raised its position in shares of Parke Bancorp by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 599,209 shares of the bank’s stock worth $17,018,000 after purchasing an additional 25,168 shares during the period. Finally, Byrne Asset Management LLC raised its position in shares of Parke Bancorp by 14.3% during the second quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank’s stock worth $106,000 after purchasing an additional 400 shares during the period. Institutional investors own 49.69% of the company’s stock.

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.