Parke Bancorp, Inc. experienced notable insider trading activity on December 24, 2023, when Director Elizabeth Milavsky sold 10,981 shares of the company’s stock. 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 in the firm, which are valued at approximately $871,719.38. This sale represents a significant 23.74% decrease in her overall holdings.
The transaction was made public through a legal filing with the U.S. Securities and Exchange Commission, which investors can review for further details. As of the latest trading session, shares of Parke Bancorp declined by 0.4%, closing at $24.71. The trading volume for the day reached 4,575 shares, well below the company’s average volume of 25,613 shares.
Stock Performance and Financial Metrics
Parke Bancorp’s stock has fluctuated within a 12-month range, recording a low of $16.94 and a high of $25.76. The company maintains a market capitalization of $286.64 million and boasts a price-to-earnings (PE) ratio of 8.69. Financially, it also shows a debt-to-equity ratio of 0.27 and a current ratio of 1.19, indicating its capacity to cover short-term liabilities.
In its most recent quarterly report, published on October 22, 2023, Parke Bancorp reported earnings of $0.89 per share with total revenue of $21.01 million. The company has demonstrated a net margin of 23.95% and a return on equity of 11.07%, solidifying its position in the financial sector.
Analyst Ratings and Institutional Activity
In a separate development, Weiss Ratings reaffirmed a “buy” rating for Parke Bancorp on December 22, 2023. Currently, one research analyst has assigned a “Buy” rating to the stock, contributing to a consensus outlook that favors potential growth.
Institutional trading has also played a significant role in the company’s stock dynamics. Notable transactions include Fourthstone LLC, which increased its holdings by 243.3% in the second quarter, acquiring an additional 142,334 shares to reach a total of 200,838 shares valued at approximately $4.09 million. Similarly, Goldman Sachs Group Inc. boosted its stake by 228.3% during the first quarter, now owning 105,700 shares worth about $1.99 million.
Other institutional investors, such as Nuveen LLC and Citadel Advisors LLC, have also made significant investments in Parke Bancorp. Currently, approximately 49.69% of the company’s stock is held by hedge funds and institutional investors.
Parke Bancorp, headquartered in Kittanning, Pennsylvania, operates as a community-oriented financial institution offering a wide range of retail and commercial banking services. Its product offerings include checking and savings accounts, money market accounts, certificates of deposit, and various lending solutions, supported by secure online and mobile banking platforms.
As the market continues to evolve, these developments will be closely monitored by investors and analysts alike.
