WASHINGTON TOWNSHIP, NJ - Parke Bancorp, Inc. (NASDAQ: PKBK) announced today a cash dividend of $0.18 per share, scheduled for distribution on April 19, 2024, to shareholders on record as of April 5, 2024.
The company, which was incorporated in January 2005 and operates Parke Bank, has expressed intentions to continue paying quarterly dividends; however, these are subject to the Board of Directors' approval and may change based on various factors, including the company's financial health and regulatory requirements.
Parke Bank, which began operations in January 1999, serves customers through several branches across New Jersey and Philadelphia, focusing on personal and business financial services for individuals and small businesses. The bank's deposits are FDIC-insured.
The information is based on a press release statement from Parke Bancorp, Inc.
InvestingPro Insights
As Parke Bancorp, Inc. (NASDAQ: PKBK) declares its latest dividend, investors may find additional context in the company's financial metrics and performance. According to real-time data from InvestingPro, Parke Bancorp has a market capitalization of $197.19 million, reflecting the company's current market value. With a P/E ratio of just 6.95, the company is trading at a low earnings multiple, which could suggest that the stock is undervalued relative to its earnings.
InvestingPro Tips indicate that Parke Bancorp has a noteworthy track record of returning value to shareholders, having raised its dividend for 10 consecutive years and maintained dividend payments for 11 consecutive years. This consistency showcases the company's commitment to shareholder returns, even as it navigates the financial sector's challenges. Moreover, the company has been profitable over the last twelve months, which is a crucial indicator of its financial health.
However, investors should be aware that the company suffers from weak gross profit margins, which could impact its ability to sustain its dividend payments in the long run. For those interested in exploring further, there are additional InvestingPro Tips available for Parke Bancorp, providing deeper insights into the company's financial position and future prospects. By visiting https://www.investing.com/pro/PKBK, investors can access these tips and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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