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Jeffrey H. Kripitz, a director at Parke Bancorp , Inc. (NASDAQ:PKBK), has sold shares worth $152,619, according to a recent SEC filing. The transactions occurred over two days, with Kripitz selling a total of 7,559 shares of common stock. The sales were executed at prices ranging from $20.19 to $20.25 per share, close to the current trading price of $20.13. The $239.24 million market cap company trades at a P/E ratio of 8.8 and offers a 3.58% dividend yield. InvestingPro analysis reveals the company has maintained dividend payments for 12 consecutive years. Following these transactions, Kripitz holds 60,454 shares directly.
In addition to his direct holdings, Kripitz maintains indirect ownership of shares through various accounts, including a Profit Sharing Plan (PSP), an Individual Retirement Account (IRA), a Trust, and an ’In Trust For’ (ITF) account.
In other recent news, Parke Bancorp has made noteworthy executive changes, including the appointment of a new Chief Credit Officer. Following the retirement of Paul E. Palmieri, James B. Meadows was appointed to the role, overseeing the bank’s credit policies and procedures. This transition is part of the natural cycle of corporate governance and is expected to be seamless.
In addition to the leadership changes, Parke Bancorp has also declared a cash dividend of $0.18 per share, scheduled for payment in January. The company’s board expressed their intent to continue quarterly dividends, contingent upon various factors including the bank’s financial health and regulatory constraints.
These recent developments indicate Parke Bancorp’s commitment to effective management and operational excellence. However, it’s important to note that future dividends are not guaranteed, as they are subject to board approval and may be adjusted or not issued depending on the company’s circumstances and regulatory requirements.
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