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Jeffrey H. Kripitz, a director at Parke Bancorp , Inc. (NASDAQ:PKBK), a $239 million market cap regional bank, recently sold shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transactions occurred over two days, February 5 and February 6, 2025. According to InvestingPro analysis, the stock is currently trading slightly above its Fair Value.
On February 5, Kripitz sold 6,101 shares at a weighted average price of $20.12 per share, with sale prices ranging from $20.10 to $20.25. The following day, he sold an additional 331 shares at $20.20 per share. These sales totaled $129,438. The stock has shown strong performance with a 20% return over the past year and currently offers a 3.6% dividend yield.
Following these transactions, Kripitz holds 54,022 shares of Parke Bancorp directly. He also maintains indirect ownership through various accounts, including a personal savings plan, an IRA, a trust, and an ITF account, with total holdings amounting to tens of thousands of shares in each. InvestingPro subscribers can access additional insights, including multiple ProTips about the company’s dividend history and profitability metrics.
In other recent news, Parke Bancorp, a commercial bank based in New Jersey, has announced significant executive transitions. Paul E. Palmieri, the former Senior Vice President and Chief Credit Officer, retired, and James B. Meadows succeeded him in the role. Meadows’ appointment, approved by the company’s Compensation Committee, positions him to oversee the bank’s credit policies and procedures. This change in leadership is a part of the company’s focus on strong governance and management.
Additionally, Parke Bancorp has declared a cash dividend of $0.18 per share, scheduled for payment to shareholders recorded by early January. The company’s board has expressed its intention to continue quarterly dividends, subject to Parke Bancorp’s financial health and regulatory constraints. These are recent developments, and it is important to note that future dividends are subject to board approval and may be adjusted or not issued depending on the company’s circumstances and regulatory requirements. Investors and interested parties will be watching closely to see how these changes will influence the bank’s strategies and performance in the competitive banking sector.
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