Insider Selling: Parke Bancorp, Inc. (NASDAQ:PKBK) Director Sells 3,132 Shares of Stock

Parke Bancorp, Inc. (NASDAQ:PKBK) Director Jack C. Sheppard, Jr. sold 3,132 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $19.33, for a total transaction of $60,541.56. Following the completion of the sale, the director now owns 69,680 shares of the company’s stock, valued at approximately $1,346,914.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Parke Bancorp, Inc. (NASDAQ:PKBK) traded down 0.26% during mid-day trading on Wednesday, reaching $19.10. 1,327 shares of the company’s stock traded hands. The firm has a 50 day moving average of $19.46 and a 200 day moving average of $20.42. The firm has a market cap of $146.54 million, a PE ratio of 13.15 and a beta of 0.65. Parke Bancorp, Inc. has a 1-year low of $13.37 and a 1-year high of $22.95.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.37 earnings per share (EPS) for the quarter. Parke Bancorp had a return on equity of 13.27% and a net margin of 31.41%. The business had revenue of $10.39 million during the quarter. Analysts forecast that Parke Bancorp, Inc. will post $1.31 EPS for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund purchased a new stake in shares of Parke Bancorp in the second quarter worth $137,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Parke Bancorp in the second quarter worth $150,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Parke Bancorp in the second quarter worth $211,000. Teachers Advisors LLC purchased a new stake in shares of Parke Bancorp during the second quarter valued at $226,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Parke Bancorp during the second quarter valued at $226,000. 24.27% of the stock is currently owned by hedge funds and other institutional investors.

Separately, ValuEngine upgraded shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd.

About Parke Bancorp

Parke Bancorp, Inc is a bank holding company of Parke Bank (the Bank). The Bank is a full commercial service bank, with focus on providing personal and business financial services to individuals and small to mid-sized businesses in Gloucester, Atlantic and Cape May Counties in New Jersey and the Philadelphia area in Pennsylvania.

Insider Buying and Selling by Quarter for Parke Bancorp (NASDAQ:PKBK)

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