Parke Bancorp, Inc. experienced notable insider trading activity when Director Elizabeth Milavsky sold 10,981 shares of the company on December 24, 2023. The shares were sold at an average price of $24.71, resulting in a total transaction value of $271,340.51. Following this sale, Milavsky retains 35,278 shares valued at approximately $871,719.38, marking a significant reduction of 23.74% in her holdings.
This transaction was officially disclosed in a filing with the Securities and Exchange Commission and is publicly accessible through their online database.
Current Market Performance
On the trading day following the sale, shares of Parke Bancorp, listed on NASDAQ under the ticker PKBK, experienced a slight decline of 0.4%, closing at $24.71. The trading volume reached 4,575 shares, contrasting with an average volume of 25,613 shares. Over the past year, the stock has fluctuated, recording a low of $16.94 and a high of $25.76.
Financial metrics indicate that Parke Bancorp maintains a debt-to-equity ratio of 0.27, with both a current and quick ratio of 1.19. The company’s fifty-day simple moving average stands at $22.91, while the 200-day average is $21.86. The firm boasts a market capitalization of approximately $286.64 million, a price-to-earnings ratio of 8.69, and a beta of 0.53.
Recent Earnings and Analyst Ratings
In its most recent financial report, Parke Bancorp announced quarterly earnings of $0.89 per share, accompanied by revenue of $21.01 million. The company recorded a net margin of 23.95% and a return on equity of 11.07%. These results were published on October 22, 2023.
Additionally, Weiss Ratings has reaffirmed a “buy (B-)” rating for Parke Bancorp’s shares, reflecting a positive outlook from analysts. According to data from MarketBeat.com, the consensus rating for the stock remains “Buy,” with one analyst specifically endorsing the stock.
Recent institutional trading has seen hedge funds adjusting their stakes in Parke Bancorp. Notably, Fourthstone LLC increased its holdings by 243.3% in the second quarter, now owning 200,838 shares valued at $4,091,000. Other significant investments include the Goldman Sachs Group Inc., which raised its stake by 228.3% and now holds 105,700 shares worth $1,991,000.
As of now, hedge funds and institutional investors own approximately 49.69% of Parke Bancorp’s stock, reflecting a strong institutional interest in the company.
About Parke Bancorp
Parke Bancorp, Inc. serves as the bank holding company for Parke Bank, headquartered in Kittanning, Pennsylvania. The institution offers a comprehensive range of retail and commercial banking services to individuals, small businesses, and agricultural clients. These services are delivered through a network of branches and ATMs, complemented by secure online and mobile banking platforms. The company’s product offerings include various deposit accounts, such as checking, savings, and certificates of deposit, in addition to a wide array of lending solutions.
