Insider Selling: Parke Bancorp (NASDAQ:PKBK) Insider Sells $415,155.75 in Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) insider Nicholas Pantilione sold 14,675 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $28.29, for a total transaction of $415,155.75. Following the transaction, the insider directly owned 1,850 shares of the company’s stock, valued at $52,336.50. The trade was a 88.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Parke Bancorp Stock Performance

NASDAQ PKBK opened at $28.50 on Monday. Parke Bancorp, Inc. has a twelve month low of $16.94 and a twelve month high of $29.50. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.27. The stock has a market cap of $330.60 million, a P/E ratio of 9.02 and a beta of 0.53. The company’s 50-day simple moving average is $26.40 and its 200 day simple moving average is $23.54.

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

Parke Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, January 2nd. Parke Bancorp’s dividend payout ratio is 22.78%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Parke Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted 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 worth $46,000 after purchasing an additional 855 shares in the last quarter. Byrne Asset Management LLC bought a new position in shares of Parke Bancorp in the fourth quarter valued at about $75,000. BNP Paribas Financial Markets lifted its position in 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 buying an additional 999 shares in the last quarter. CWM LLC grew its holdings in 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 acquiring an additional 2,409 shares during the last quarter. Finally, Daytona Street Capital LLC bought a new stake in Parke Bancorp during the 4th quarter worth about $163,000. 49.69% of the stock is owned by institutional investors and hedge funds.

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.