Short Interest in Parke Bancorp, Inc. (NASDAQ:PKBK) Declines By 19.4%

by · The Cerbat Gem

Parke Bancorp, Inc. (NASDAQ:PKBK – Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 67,800 shares, a drop of 19.4% from the September 15th total of 84,100 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 20,400 shares, the short-interest ratio is presently 3.3 days.

Insider Activity

In related news, COO Ralph Martin Gallo sold 7,700 shares of Parke Bancorp stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $19.63, for a total transaction of $151,151.00. Following the transaction, the chief operating officer now owns 404 shares of the company’s stock, valued at $7,930.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PKBK. BNP Paribas Financial Markets lifted 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 valued at $89,000 after acquiring an additional 2,310 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Parke Bancorp in the second quarter valued at approximately $186,000. Quadrature Capital Ltd bought a new stake in shares of Parke Bancorp in the first quarter worth $198,000. Lakewood Asset Management LLC lifted its position in shares of Parke Bancorp by 8.2% in 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 in the last quarter. Finally, Fulton Bank N.A. acquired a new position in Parke Bancorp during the first quarter worth $837,000. 49.69% of the stock is currently owned by institutional investors.

Parke Bancorp Trading Up 3.4 %

PKBK stock traded up $0.68 during midday trading on Friday, hitting $20.76. 14,694 shares of the company’s stock were exchanged, compared to its average volume of 23,242. Parke Bancorp has a one year low of $15.16 and a one year high of $22.00. The stock’s fifty day moving average price is $20.08 and its 200-day moving average price is $17.93. The company has a market cap of $248.70 million, a PE ratio of 11.60 and a beta of 0.70. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.30.

Parke Bancorp (NASDAQ:PKBK – Get Free Report) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.53 EPS for the quarter. The business had revenue of $31.39 million for the quarter. Parke Bancorp had a net margin of 17.49% and a return on equity of 10.19%.

Parke Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.72 annualized dividend and a dividend yield of 3.47%. Parke Bancorp’s dividend payout ratio is currently 40.22%.

Parke Bancorp Company Profile

(Get Free Report)

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.

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