Parke Bancorp, Inc. Announces Quarterly Dividend of $0.18 (NASDAQ:PKBK)

Parke Bancorp, Inc. (NASDAQ:PKBK) declared a quarterly dividend on Wednesday, December 18th,RTT News reports. Shareholders of record on Friday, January 3rd will be given a dividend of 0.18 per share by the bank on Friday, January 17th. This represents a $0.72 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, January 3rd.

Parke Bancorp has increased its dividend by an average of 4.8% per year over the last three years.

Parke Bancorp Stock Performance

NASDAQ:PKBK opened at $20.84 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The firm’s fifty day simple moving average is $22.25 and its 200 day simple moving average is $19.85. The stock has a market cap of $247.68 million, a P/E ratio of 8.94 and a beta of 0.71. Parke Bancorp has a twelve month low of $15.24 and a twelve month high of $24.29.

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

Insider Buying and Selling at Parke Bancorp

In related news, Chairman Daniel J. Dalton sold 5,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $20.96, for a total transaction of $104,800.00. Following the sale, the chairman now directly owns 71,319 shares of the company’s stock, valued at $1,494,846.24. This trade represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey H. Kripitz sold 10,000 shares of Parke Bancorp 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 completion of the sale, the director now 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 disclosure for this sale can be found here. 15.52% of the stock is owned by company insiders.

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.