Parke Bancorp, Inc. (NASDAQ:PKBK) Short Interest Update

Parke Bancorp, Inc. (NASDAQ:PKBK - Get Free Report) saw a significant decline in short interest in September. As of September 30th, there was short interest totalling 67,800 shares, a decline of 19.4% from the September 15th total of 84,100 shares. Based on an average daily volume of 20,400 shares, the days-to-cover ratio is currently 3.3 days. Currently, 0.7% of the shares of the stock are sold short.

Insiders Place Their Bets

In related news, COO Ralph Martin Gallo sold 7,700 shares of the firm's stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $19.63, for a total value of $151,151.00. Following the transaction, the chief operating officer now owns 404 shares in the company, valued at $7,930.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.33% of the company's stock.

Institutional Investors Weigh In On Parke Bancorp

A number of hedge funds have recently added to or reduced their stakes in PKBK. BNP Paribas Financial Markets boosted its stake in shares of 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 buying an additional 2,310 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Parke Bancorp in the 2nd quarter valued at about $186,000. Quadrature Capital Ltd bought a new stake in Parke Bancorp during the first quarter valued at approximately $198,000. Lakewood Asset Management LLC lifted its holdings in shares of Parke Bancorp by 8.2% during the 3rd quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank's stock worth $274,000 after acquiring an additional 997 shares during the last quarter. Finally, Fulton Bank N.A. purchased a new position in shares of Parke Bancorp in the 1st quarter worth about $837,000. 49.69% of the stock is currently owned by institutional investors.

Parke Bancorp Stock Up 3.4 %

Shares of PKBK stock traded up $0.68 during trading hours on Friday, hitting $20.76. 14,694 shares of the company were exchanged, compared to its average volume of 23,242. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $248.70 million, a PE ratio of 11.60 and a beta of 0.70. Parke Bancorp has a 52 week low of $15.16 and a 52 week high of $22.00. The business has a 50 day moving average of $20.08 and a two-hundred day moving average of $17.94.

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

Parke Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.72 dividend on an annualized basis and a yield of 3.47%. Parke Bancorp's payout ratio is 40.22%.

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.