Parke Bancorp (NASDAQ:PKBK) Announces Earnings Results

by · The Cerbat Gem

Parke Bancorp (NASDAQ:PKBK – Get Free Report) announced its earnings results on Thursday. The bank reported $0.93 earnings per share (EPS) for the quarter, Zacks reports. Parke Bancorp had a return on equity of 11.07% and a net margin of 23.95%.

Parke Bancorp Stock Performance

NASDAQ:PKBK traded up $0.07 during trading hours on Thursday, hitting $26.43. 57,782 shares of the company were exchanged, compared to its average volume of 75,559. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 1.19. Parke Bancorp has a 52-week low of $16.94 and a 52-week high of $26.98. The stock has a market capitalization of $306.59 million, a price-to-earnings ratio of 9.31 and a beta of 0.51. The company’s 50 day moving average price is $24.18 and its 200-day moving average price is $22.48.

Parke Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a $0.18 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 2.7%. Parke Bancorp’s dividend payout ratio (DPR) is 25.35%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Parke Bancorp in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Check Out Our Latest Analysis on PKBK

Insider Buying and Selling at Parke Bancorp

In other Parke Bancorp news, Director Daniel J. Dalton sold 7,500 shares of Parke Bancorp stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $25.12, for a total transaction of $188,400.00. Following the completion of the sale, the director owned 10,000 shares of the company’s stock, valued at approximately $251,200. The trade was a 42.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Elizabeth A. Milavsky sold 10,981 shares of the business’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $24.71, for a total value of $271,340.51. Following the sale, the director owned 35,278 shares in the company, valued at approximately $871,719.38. The trade was a 23.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 15.33% of the company’s stock.

Institutional Investors Weigh In On Parke Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of PKBK. Russell Investments Group Ltd. increased its holdings in Parke Bancorp by 66.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after buying an additional 855 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Parke Bancorp by 44.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock valued at $66,000 after acquiring an additional 999 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Parke Bancorp in the first quarter worth $229,000. JPMorgan Chase & Co. increased its stake in shares of Parke Bancorp by 12.6% in the third quarter. JPMorgan Chase & Co. now owns 11,214 shares of the bank’s stock worth $242,000 after acquiring an additional 1,253 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Parke Bancorp by 7.0% during the second quarter. Rhumbline Advisers now owns 15,969 shares of the bank’s stock worth $325,000 after purchasing an additional 1,051 shares during the last quarter. Institutional investors and hedge funds own 49.69% of the company’s stock.

About Parke Bancorp

(Get Free Report)

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.

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