Parke Bancorp, Inc. (PKBK) Insider David O. Middlebrook Sells 800 Shares
Parke Bancorp, Inc. (NASDAQ:PKBK) insider David O. Middlebrook sold 800 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $18.60, for a total transaction of $14,880.00. Following the completion of the sale, the insider now directly owns 21,889 shares of the company’s stock, valued at approximately $407,135.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Parke Bancorp, Inc. (NASDAQ:PKBK) traded up 0.26% during mid-day trading on Monday, reaching $19.10. 11,295 shares of the company’s stock traded hands. The stock has a market capitalization of $146.54 million, a PE ratio of 13.15 and a beta of 0.63. Parke Bancorp, Inc. has a 12-month low of $12.43 and a 12-month high of $22.95. The company’s 50-day moving average price is $20.73 and its 200-day moving average price is $20.38.
Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.37 earnings per share for the quarter. Parke Bancorp had a net margin of 31.41% and a return on equity of 13.27%. The business had revenue of $10.39 million during the quarter. Analysts anticipate that Parke Bancorp, Inc. will post $1.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were paid a $0.12 dividend. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, July 12th. This represents a $0.48 annualized dividend and a dividend yield of 2.51%. Parke Bancorp’s dividend payout ratio is 33.06%.
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Several hedge funds have recently bought and sold shares of PKBK. Eagle Global Advisors LLC boosted its stake in Parke Bancorp by 10.0% in the second quarter. Eagle Global Advisors LLC now owns 27,563 shares of the bank’s stock valued at $617,000 after buying an additional 2,505 shares during the period. Wedbush Securities Inc. raised its position in shares of Parke Bancorp by 10.0% in the second quarter. Wedbush Securities Inc. now owns 27,280 shares of the bank’s stock valued at $611,000 after buying an additional 2,480 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Parke Bancorp by 10.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 125,665 shares of the bank’s stock valued at $2,815,000 after buying an additional 11,424 shares in the last quarter. First Manhattan Co. raised its position in shares of Parke Bancorp by 52.0% in the second quarter. First Manhattan Co. now owns 29,876 shares of the bank’s stock valued at $669,000 after buying an additional 10,216 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. bought a new position in shares of Parke Bancorp during the second quarter valued at approximately $211,000. 19.15% of the stock is owned by institutional investors and hedge funds.
Separately, ValuEngine downgraded shares of Parke Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th.
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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