Parke Bancorp, Inc. (PKBK) Announces Earnings Results
Parke Bancorp, Inc. (NASDAQ:PKBK) posted its quarterly earnings data on Monday. The bank reported $0.42 earnings per share for the quarter, Bloomberg Earnings reports. Parke Bancorp had a net margin of 31.41% and a return on equity of 13.27%. The business had revenue of $10.71 million for the quarter.
Parke Bancorp (PKBK) traded up 2.27% on Tuesday, reaching $22.50. 5,076 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $21.04 and a 200 day moving average price of $20.82. Parke Bancorp has a one year low of $13.68 and a one year high of $23.00. The firm has a market cap of $172.62 million, a PE ratio of 15.50 and a beta of 0.67.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, October 12th. Parke Bancorp’s dividend payout ratio (DPR) is 33.06%.
In related news, Director Jack C. Sheppard, Jr. sold 3,132 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $19.33, for a total transaction of $60,541.56. Following the completion of the sale, the director now directly owns 69,680 shares of the company’s stock, valued at approximately $1,346,914.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.05% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company acquired a new stake in shares of Parke Bancorp during the 2nd quarter worth about $150,000. California State Teachers Retirement System acquired a new stake in shares of Parke Bancorp during the 2nd quarter worth about $226,000. Finally, State Street Corp acquired a new stake in shares of Parke Bancorp during the 2nd quarter worth about $1,157,000. 24.27% of the stock is owned by hedge funds and other institutional investors.
About Parke Bancorp
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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