Insider Buying: Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Buys 500 Shares of Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) CEO Vito S. Pantilione bought 500 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $20.88 per share, for a total transaction of $10,440.00. Following the transaction, the chief executive officer now owns 218,260 shares in the company, valued at $4,557,268.80. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Parke Bancorp Stock Up 7.4 %

Parke Bancorp stock opened at $23.25 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.75. Parke Bancorp, Inc. has a 1-year low of $15.24 and a 1-year high of $23.44. The company has a fifty day simple moving average of $20.86 and a 200 day simple moving average of $18.53. The company has a market cap of $278.47 million, a P/E ratio of 9.98 and a beta of 0.69.

Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.62 earnings per share for the quarter. Parke Bancorp had a return on equity of 9.81% and a net margin of 22.32%. The company had revenue of $15.62 million during the quarter.

Parke Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, October 4th. Parke Bancorp’s dividend payout ratio (DPR) is 30.90%.

Institutional Investors Weigh In On Parke Bancorp

Several large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in Parke Bancorp by 1,990.2% during the third quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank’s stock worth $53,000 after buying an additional 2,428 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Parke Bancorp by 80.1% during the 1st quarter. BNP Paribas Financial Markets now owns 5,195 shares of the bank’s stock worth $89,000 after purchasing an additional 2,310 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Parke Bancorp during the 3rd quarter worth about $211,000. Squarepoint Ops LLC acquired a new stake in Parke Bancorp in the 2nd quarter valued at about $186,000. Finally, Quadrature Capital Ltd acquired a new stake in Parke Bancorp in the 1st quarter valued at about $198,000. Institutional investors and hedge funds own 49.69% of the company’s stock.

Wall Street Analyst Weigh In

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

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.