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Jeffrey H. Kripitz, a director at Parke Bancorp , Inc. (NASDAQ:PKBK), a $237 million market cap bank trading at 0.79 times book value, has recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Kripitz sold a total of 1,148 shares of Parke Bancorp common stock over two days. The transactions, completed on February 6 and February 7, 2025, were executed at prices ranging from $20.00 to $20.15 per share, amounting to a total value of $22,982. The stock currently trades at a P/E ratio of 8.7 and offers a 3.61% dividend yield, having maintained dividend payments for 12 consecutive years.
Following these sales, Kripitz holds 52,874 shares directly. Additionally, he maintains indirect ownership of shares through various accounts, including personal savings plans, individual retirement accounts, and trusts.
Investors often keep a close watch on insider transactions, as they can provide insights into the executive’s perspective on the company’s valuation and future prospects.
In other recent news, Parke Bancorp has undergone executive changes, with James B. Meadows stepping in as the new Chief Credit Officer following the retirement of Paul E. Palmieri. This transition, approved by the company’s Compensation Committee, is part of the natural cycle of corporate governance and is expected to be seamless, with Meadows overseeing the bank’s credit policies and procedures.
Parke Bancorp also declared a cash dividend of $0.18 per share, scheduled for payment to recorded shareholders. The board’s intent is to continue quarterly dividends, contingent upon Parke Bancorp’s financial health and regulatory constraints.
These are recent developments that underline the company’s commitment to effective management and operational excellence. Investors and interested parties will be observing how these changes influence the bank’s strategies and performance in the competitive banking sector. The company’s focus remains on strong governance and management as it navigates through the current financial landscape. 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 at all depending on the company’s circumstances and regulatory requirements.
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