Parke Bancorp (NASDAQ:PKBK) Director Elizabeth Milavsky Sells 10,981 Shares

Parke Bancorp, Inc. (NASDAQ:PKBK) Director Elizabeth Milavsky sold 10,981 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $24.71, for a total transaction of $271,340.51. Following the completion of the sale, the director owned 35,278 shares in the company, valued at approximately $871,719.38. This trade represents a 23.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Parke Bancorp Stock Up 0.8%

NASDAQ:PKBK opened at $25.00 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market capitalization of $290 million, a price-to-earnings ratio of 8.80 and a beta of 0.53. Parke Bancorp, Inc. has a one year low of $16.94 and a one year high of $25.76. The stock has a 50-day simple moving average of $23.00 and a 200 day simple moving average of $21.89.

Parke Bancorp (NASDAQ:PKBK) last released its earnings results on Wednesday, October 22nd. The bank reported $0.89 EPS for the quarter. The company had revenue of $21.01 million for the quarter. Parke Bancorp had a return on equity of 11.07% and a net margin of 23.95%.

Parke Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, January 2nd. Parke Bancorp’s payout ratio is currently 25.35%.

Institutional Investors Weigh In On Parke Bancorp

Several large investors have recently added to or reduced their stakes in PKBK. Russell Investments Group Ltd. lifted its stake in Parke Bancorp by 66.2% in the third quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock valued at $46,000 after buying an additional 855 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Parke Bancorp by 44.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock worth $66,000 after acquiring an additional 999 shares during the period. CWM LLC increased its holdings in shares of Parke Bancorp by 251.5% in the 3rd quarter. CWM LLC now owns 3,367 shares of the bank’s stock worth $73,000 after acquiring an additional 2,409 shares during the period. Ritholtz Wealth Management bought a new stake in Parke Bancorp in the 3rd quarter valued at about $214,000. Finally, Trexquant Investment LP acquired a new position in Parke Bancorp during the 1st quarter valued at about $207,000. 49.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Parke Bancorp in a research report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

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.