Parke Bancorp, Inc. (NASDAQ:PKBK) Short Interest Down 23.0% in December

Parke Bancorp, Inc. (NASDAQ:PKBK) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 64,296 shares, a decrease of 23.0% from the December 15th total of 83,544 shares. Based on an average trading volume of 40,677 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.6% of the company’s shares are sold short. Approximately 0.6% of the company’s shares are sold short. Based on an average trading volume of 40,677 shares, the days-to-cover ratio is currently 1.6 days.

Parke Bancorp Stock Performance

PKBK traded down $0.25 on Friday, hitting $25.45. The company’s stock had a trading volume of 74,727 shares, compared to its average volume of 53,917. Parke Bancorp has a 12 month low of $16.94 and a 12 month high of $25.96. The company’s 50 day simple moving average is $23.95 and its 200-day simple moving average is $22.39. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.27. The firm has a market cap of $295.12 million, a P/E ratio of 8.96 and a beta of 0.51.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings results on Wednesday, October 22nd. The bank reported $0.89 EPS for the quarter. The firm had revenue of $21.01 million during the quarter. Parke Bancorp had a net margin of 23.95% and a return on equity of 11.07%.

Parke Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, January 2nd. Parke Bancorp’s dividend payout ratio (DPR) is 25.35%.

Insider Activity at Parke Bancorp

In other news, Director Daniel J. Dalton sold 7,500 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $25.12, for a total transaction of $188,400.00. Following the completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at approximately $251,200. This trade represents a 42.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth A. Milavsky sold 10,981 shares of the business’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $24.71, for a total transaction of $271,340.51. Following the completion of the sale, the director directly owned 35,278 shares in the company, valued at approximately $871,719.38. This represents a 23.74% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 15.33% of the company’s stock.

Institutional Trading of Parke Bancorp

Several large investors have recently modified their holdings of PKBK. Fourthstone LLC raised its position in Parke Bancorp by 243.3% during the 2nd quarter. Fourthstone LLC now owns 200,838 shares of the bank’s stock valued at $4,091,000 after purchasing an additional 142,334 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Parke Bancorp by 228.3% in the first quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock valued at $1,991,000 after acquiring an additional 73,505 shares in the last quarter. Strs Ohio purchased a new position in Parke Bancorp during the 1st quarter valued at $494,000. Citadel Advisors LLC purchased a new position in shares of Parke Bancorp during the third quarter valued at about $532,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Parke Bancorp by 46.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 64,420 shares of the bank’s stock worth $1,312,000 after buying an additional 20,347 shares during the period. 49.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Parke Bancorp in a research note on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy”.

Parke Bancorp Company Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.