Parke Bancorp, Inc. (NASDAQ:PKBK) director Jeffrey H. Kripitz reported selling a total of 4,000 shares of the company's common stock on May 22, according to a recent SEC filing. The transactions were executed in two separate trades at prices ranging from $16.85 to $16.90 per share, culminating in a total sale value of $67,500.
The disclosed sale has adjusted Kripitz's direct holdings in the company, which, following the transactions, amount to 85,013 shares after the first sale and 83,013 shares after the second. The filing also revealed indirect holdings in various forms, including 75,543 shares in a PSP (Profit Sharing Plan), 43,175 shares in an IRA, 28,985 shares in a Trust, and 27,602 shares in ITF (In Trust For) accounts.
Investors often monitor insider trades such as these to gain insight into the perspectives of high-level executives and directors regarding their own company's stock. Such sales and purchases can be routine in nature or may reflect a change in the insider's view on the company's prospects.
The sale by Kripitz comes as part of the regular reporting of stock transactions by company insiders, providing transparency for investors and maintaining compliance with securities regulations. The transactions are detailed in the SEC Form 4 filing, which is publicly available for review.
For those interested in the current and post-transaction holdings of Parke Bancorp's insiders, the SEC filings provide a comprehensive account of such activity, ensuring that investors have access to the same information as regulators and other market participants.
InvestingPro Insights
Amidst the recent insider trading activity, Parke Bancorp, Inc. (NASDAQ:PKBK) continues to present a mixed financial landscape according to the latest InvestingPro data. Despite a challenging environment, the company boasts a strong P/E ratio of 8.52, suggesting that the stock might be undervalued when compared to industry peers. This is further supported by a Price / Book ratio of 0.69 for the last twelve months as of Q1 2024, indicating that the stock is potentially trading below its net asset value.
InvestingPro Tips highlight that Parke Bancorp has a commendable track record of returning value to shareholders, having raised its dividend for 10 consecutive years and maintained dividend payments for 11 consecutive years. This consistent dividend history is a testament to the company's profitability over the last twelve months. However, potential investors should be aware of the company's weak gross profit margins, which could be a point of concern.
Investors seeking deeper insights into Parke Bancorp's financial health and performance metrics can find additional InvestingPro Tips by visiting Investing.com/pro/PKBK. For those looking to leverage the full suite of tools and tips offered by InvestingPro, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 3 more tips available on InvestingPro, investors can gain a comprehensive understanding of Parke Bancorp's investment potential.
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