Parke Bancorp, Inc. (PKBK) to Issue Quarterly Dividend of $0.12 on October 27th

Parke Bancorp, Inc. (NASDAQ:PKBK) announced a quarterly dividend on Friday, September 22nd, Wall Street Journal reports. Investors of record on Friday, October 13th will be given a dividend of 0.12 per share by the bank on Friday, October 27th. This represents a $0.48 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, October 12th.

Shares of Parke Bancorp (NASDAQ PKBK) opened at 22.50 on Wednesday. Parke Bancorp has a 12-month low of $13.50 and a 12-month high of $23.00. The company’s 50 day moving average is $20.36 and its 200 day moving average is $20.64. The firm has a market capitalization of $172.62 million, a PE ratio of 15.50 and a beta of 0.67.

Parke Bancorp (NASDAQ:PKBK) last issued 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. On average, analysts forecast that Parke Bancorp will post $1.31 earnings per share for the current year.

In related news, Director Jack C. Sheppard, Jr. sold 3,132 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $19.33, for a total value of $60,541.56. Following the completion of the transaction, the director now directly owns 69,680 shares in the company, valued at approximately $1,346,914.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 26.05% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company acquired a new position in shares of Parke Bancorp in the 2nd quarter valued at approximately $150,000. California State Teachers Retirement System acquired a new position in Parke Bancorp during the 2nd quarter worth approximately $226,000. Finally, State Street Corp acquired a new position in Parke Bancorp during the 2nd quarter worth approximately $1,157,000. Institutional investors and hedge funds own 24.27% of the company’s stock.

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Parke Bancorp Company Profile

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.

Dividend History for Parke Bancorp (NASDAQ:PKBK)

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