Jeffrey H. Kripitz Sells 10,000 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK) Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) Director Jeffrey H. Kripitz sold 10,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $22.77, for a total transaction of $227,700.00. Following the completion of the sale, the director now directly owns 73,013 shares in the company, valued at approximately $1,662,506.01. This represents a 12.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Parke Bancorp Trading Up 2.3 %

PKBK stock opened at $23.55 on Friday. The company has a market capitalization of $280.01 million, a PE ratio of 10.11 and a beta of 0.69. Parke Bancorp, Inc. has a 12 month low of $15.24 and a 12 month high of $23.55. The firm’s 50-day moving average is $21.44 and its 200 day moving average is $19.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.62 EPS for the quarter. Parke Bancorp had a net margin of 22.32% and a return on equity of 9.75%. The company had revenue of $15.62 million for the quarter.

Parke Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.06%. The ex-dividend date was Friday, October 4th. Parke Bancorp’s payout ratio is 30.90%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PKBK. Private Advisor Group LLC bought a new stake in shares of Parke Bancorp in the 3rd quarter valued at about $211,000. BNP Paribas Financial Markets boosted its stake in Parke Bancorp by 80.1% in the 1st quarter. BNP Paribas Financial Markets now owns 5,195 shares of the bank’s stock worth $89,000 after purchasing an additional 2,310 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Parke Bancorp in the 1st quarter worth approximately $198,000. Bank of New York Mellon Corp boosted its stake in Parke Bancorp by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank’s stock worth $999,000 after purchasing an additional 4,076 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Parke Bancorp by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 514,393 shares of the bank’s stock worth $8,860,000 after purchasing an additional 5,698 shares in the last quarter. 49.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 21st.

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.