Parke Bancorp said on March 28, 2023 that its board of directors declared a regular
quarterly dividend of $0.18 per share ($0.72 annualized).
Previously, the company paid $0.18 per share.
Shares must be purchased before the ex-div date of April 6, 2023 to qualify for the dividend.
Shareholders of record as of April 10, 2023
will receive the payment on April 24, 2023.
At the current share price of $17.89 / share,
the stock’s dividend yield is 4.02%.
Looking back five years and taking a sample every week, the average dividend yield has been
3.13%,
the lowest has been 1.65%,
and the highest has been 5.80%.
The standard deviation of yields is 0.93 (n=236).
The current dividend yield is
0.97 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 0.21.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.24%,
demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 193 funds or institutions reporting positions in Parke Bancorp.
This is an increase
of
6
owner(s) or 3.21% in the last quarter.
Average portfolio weight of all funds dedicated to PKBK is 0.06%,
a decrease
of 33.66%.
Total shares owned by institutions increased
in the last three months by 3.08% to 5,709K shares.
The put/call ratio of PKBK is 1.43, indicating a
bearish
outlook.
What are Large Shareholders Doing?
M3F
holds 538K shares
representing 4.50% ownership of the company.
In it’s prior filing, the firm reported owning 485K shares, representing
an increase
of 9.83%.
The firm
decreased
its portfolio allocation in PKBK by 99.90% over the last quarter.
Pacific Ridge Capital Partners
holds 306K shares
representing 2.56% ownership of the company.
In it’s prior filing, the firm reported owning 311K shares, representing
a decrease
of 1.54%.
The firm
decreased
its portfolio allocation in PKBK by 99.91% over the last quarter.
Cutler Capital Management
holds 295K shares
representing 2.47% ownership of the company.
In it’s prior filing, the firm reported owning 289K shares, representing
an increase
of 2.00%.
The firm
decreased
its portfolio allocation in PKBK by 10.36% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 291K shares
representing 2.43% ownership of the company.
No change in the last quarter.
Basswood Capital Management, L.l.c.
holds 285K shares
representing 2.38% ownership of the company.
In it’s prior filing, the firm reported owning 344K shares, representing
a decrease
of 20.67%.
The firm
decreased
its portfolio allocation in PKBK by 17.37% over the last quarter.
Parke Bancorp Background Information
(This description is provided by the company.)
Parke Bancorp, Inc. was incorporated in January 2005, while Parke Bank commenced operations in January 1999. Parke Bancorp and Parke Bank maintain their principal offices at 601 Delsea Drive, Washington Township, New Jersey. Parke Bank conducts business through a branch office in Northfield, New Jersey, two branch offices in Washington Township, New Jersey, a branch office in Galloway Township, New Jersey, a branch office in Collingswood, New Jersey, a branch in center city Philadelphia and a branch in Chinatown in Philadelphia. Parke Bank is a full service commercial bank, with an emphasis on providing personal and business financial services to individuals and small-sized businesses primarily in Gloucester, Atlantic and Cape May counties in New Jersey and Philadelphia and surrounding counties in Pennsylvania. Parke Bank’s deposits are insured up to the maximum legal amount by the Federal Deposit Insurance Corporation (FDIC).
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
