Parke Bancorp, Inc. (NASDAQ:PKBK) Posts Quarterly Earnings Results
Parke Bancorp, Inc. (NASDAQ:PKBK) posted its quarterly earnings results on Thursday. The bank reported $0.37 earnings per share for the quarter, Bloomberg Earnings reports. The firm had revenue of $10.39 million for the quarter. Parke Bancorp had a return on equity of 18.25% and a net margin of 35.75%.
Parke Bancorp (PKBK) traded down 1.027% on Friday, hitting $21.972. The company had a trading volume of 5,124 shares. The stock has a market capitalization of $166.48 million, a PE ratio of 11.216 and a beta of 0.65. The stock has a 50 day moving average of $21.76 and a 200-day moving average of $20.13. Parke Bancorp has a one year low of $12.27 and a one year high of $22.95.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This is a positive change from Parke Bancorp’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.16%. Parke Bancorp’s payout ratio is presently 24.44%.
Separately, ValuEngine lowered Parke Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, May 11th.
In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 7,651 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $22.99, for a total value of $175,896.49. Following the completion of the sale, the director now directly owns 188,136 shares of the company’s stock, valued at $4,325,246.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward Infantolino sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $21.20, for a total value of $106,000.00. Following the completion of the sale, the director now directly owns 33,865 shares of the company’s stock, valued at $717,938. The disclosure for this sale can be found here. Insiders sold 55,944 shares of company stock valued at $1,245,676 over the last three months. Company insiders own 26.05% of the company’s stock.
Parke Bancorp Company Profile
Parke Bancorp, Inc is a bank holding company of Parke Bank (the Bank). The Bank is a full commercial service bank, with focus on providing personal and business financial services to individuals and small to mid-sized businesses in Gloucester, Atlantic and Cape May Counties in New Jersey and the Philadelphia area in Pennsylvania.
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