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 firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $22.77, for a total transaction of $227,700.00. Following the transaction, the director now directly owns 73,013 shares of the company’s stock, valued at $1,662,506.01. This represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Parke Bancorp Price Performance

Parke Bancorp stock opened at $23.55 on Friday. The company’s fifty day moving average price is $21.44 and its 200 day moving average price is $19.00. Parke Bancorp, Inc. has a 1 year low of $15.24 and a 1 year high of $23.55. The stock has a market capitalization of $280.01 million, a P/E ratio of 10.11 and a beta of 0.69. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Friday, October 18th. The bank reported $0.62 earnings per share (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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.72 annualized dividend and a yield of 3.06%. Parke Bancorp’s dividend payout ratio (DPR) is currently 30.90%.

Institutional Trading of Parke Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC increased its stake in Parke Bancorp by 6.7% during the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock worth $293,000 after purchasing an additional 880 shares during the period. Lakewood Asset Management LLC increased its stake in Parke Bancorp by 8.2% during the third quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank’s stock worth $274,000 after purchasing an additional 997 shares during the period. BNP Paribas Financial Markets increased its stake in Parke Bancorp by 56.3% during the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock worth $72,000 after purchasing an additional 1,235 shares during the period. Geode Capital Management LLC increased its stake in Parke Bancorp by 0.6% during the third quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock worth $4,845,000 after purchasing an additional 1,447 shares during the period. Finally, Empowered Funds LLC increased its stake in Parke Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 45,466 shares of the bank’s stock worth $950,000 after purchasing an additional 2,278 shares during the period. 49.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a report 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.