Parke Bancorp, Inc. (NASDAQ:PKBK) Director Jeffrey H. Kripitz Sells 6,101 Shares of Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) Director Jeffrey H. Kripitz sold 6,101 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $20.12, for a total transaction of $122,752.12. Following the completion of the sale, the director now directly owns 54,353 shares of the company’s stock, valued at $1,093,582.36. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Parke Bancorp Price Performance

Shares of PKBK stock opened at $19.94 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The business’s fifty day moving average is $20.82 and its 200 day moving average is $20.77. The stock has a market cap of $237.09 million, a price-to-earnings ratio of 8.78 and a beta of 0.72. Parke Bancorp, Inc. has a twelve month low of $15.24 and a twelve month high of $24.29.

Parke Bancorp (NASDAQ:PKBK) last released its earnings results on Friday, January 24th. The bank reported $0.61 EPS for the quarter. Parke Bancorp had a return on equity of 9.41% and a net margin of 21.25%.

Parke Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.72 annualized dividend and a yield of 3.61%. Parke Bancorp’s dividend payout ratio is 31.72%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Parke Bancorp from a “buy” rating to a “hold” rating in a report on Monday, January 27th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PKBK. Geode Capital Management LLC boosted its holdings in shares of Parke Bancorp by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock valued at $4,845,000 after acquiring an additional 1,447 shares during the last quarter. Empowered Funds LLC lifted its position in Parke Bancorp by 5.1% during the fourth quarter. Empowered Funds LLC now owns 47,799 shares of the bank’s stock valued at $980,000 after purchasing an additional 2,333 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Parke Bancorp by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,324 shares of the bank’s stock worth $622,000 after purchasing an additional 1,574 shares during the last quarter. Fourthstone LLC grew its position in Parke Bancorp by 11.8% in the 3rd quarter. Fourthstone LLC now owns 26,957 shares of the bank’s stock worth $563,000 after purchasing an additional 2,844 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Parke Bancorp by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock valued at $336,000 after buying an additional 1,842 shares during the last quarter. Hedge funds and other institutional investors own 49.69% of the company’s stock.

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.