Parke Bancorp CEO buys shares worth over $30k

Parke Bancorp, Inc. (NASDAQ:PKBK) President and CEO Vito S. Pantilione has increased his stake in the company, purchasing shares valued at over $30,000. The transactions, which took place on July 23, 2024, were reported in a recent SEC filing.

Pantilione acquired a total of 1,600 shares of Parke Bancorp's common stock at a weighted average purchase price ranging from $19.11 to $19.15 per share. This brings the total amount spent on these purchases to approximately $30,638. The stock acquisition reflects the CEO's growing investment in the bank he leads, signaling confidence in the firm's prospects.

Following these transactions, Pantilione's direct holdings in Parke Bancorp have risen to 217,760 shares. Additionally, he holds indirect interests through various accounts, including an IRA, a 401(k), and in trust for family members, which account for a significant portion of his investment in the company.

Investors often look to the buying and selling activity of company executives as an indicator of corporate health and leadership confidence. The recent purchases by the CEO of Parke Bancorp may be seen as a positive sign by the market.

Parke Bancorp, headquartered in Washington Township, New Jersey, operates as a state commercial bank and provides a range of financial services. The company's stock trades on the NASDAQ under the ticker symbol PKBK.

InvestingPro Insights

Amidst the recent insider buying activity at Parke Bancorp, Inc. (NASDAQ:PKBK), investors may find additional context through real-time data and insights from InvestingPro. The company's commitment to shareholder returns is evidenced by a notable InvestingPro Tip: Parke Bancorp has raised its dividend for 10 consecutive years and has maintained dividend payments for 11 consecutive years. This consistent dividend history underscores the management's confidence in the company's financial stability and long-term strategy.

From a financial perspective, Parke Bancorp's market capitalization stands at $228.13 million, with a price-to-earnings (P/E) ratio of 10.48, reflecting investor perceptions of the company's earnings potential relative to its market value. Moreover, the company has demonstrated a strong return over the last month, with a 25.86% price total return, which may align with the CEO's recent stock purchase activity.

For investors seeking a deeper dive into Parke Bancorp's financial health and future outlook, InvestingPro offers additional tips, including insights on gross profit margins and profitability over the last twelve months. To explore these insights further and make informed investment decisions, consider using the promo code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription on InvestingPro, where 5 additional tips are available for Parke Bancorp.

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