Parke Bancorp Inc (PKBK)

Parke Bancorp Inc. Stock Overview

Company Profile:

History and Background:

• Parke Bancorp, Inc. was founded in 1946. It was originally named Parke State Bank & Trust Company.
• The company was first listed on NASDAQ under the stock symbol PKBK in 1987.
• Parke Bancorp Inc is headquartered in Cherry Hill, New Jersey.

Business Areas:

• Parke Bancorp Inc. is a bank holding company that primarily operates through its wholly-owned subsidiary, Parke Bank.
• Parke Bank provides various financial and banking services to individuals, families, and businesses, including;
  • Checking and savings accounts
  • Credit cards and loans
  • Investment services
  • Online and mobile banking
  • Wealth management
  • Commercial banking
  • Trust services

Leadership Team and Corporate Structure:

• Chairman, President & CEO: Thomas J. Louer
• Chief Financial Officer: James P. Pace
• Chief Operating Officer: David H. Mansfield
• The Board of Directors consists of 9 members.

Top Products and Market Share:

• Parke Bancorp Inc.'s main products are its deposit and loan products.
• The company does not disclose its market share for specific products or services.

Total Addressable Market:

• The total addressable market for banking services in the United States is estimated to be in the trillions of dollars.

Financial Performance:

• Revenue: Parke Bancorp Inc.'s annual revenue in 2022 was $113.28 million, an increase of 3.3% year-over-year.
• Net Income: Net income was $23.41 million in 2022, a decrease of 3.3% from the year before.
• Profit Margin: Profit margin was 20.6% in 2022.
• Earnings per Share (EPS): EPS was $2.40 in 2022 and $2.48 in 2021.
• The company has a healthy balance sheet with strong capital ratios.
• Parke Bancorp Inc. has a strong financial performance with consistent growth in revenue and earnings.

Dividends and Shareholder Returns:

• Parke Bancorp Inc. has a history of paying dividends.
• The current dividend yield is approximately 2.4%.
• Shareholder return was approximately 4.4% in 2022 and 18.8% in 2021.

Growth Trajectory:

• Parke Bancorp Inc. has experienced steady historical growth with average revenue growth of 5.5% over the past 3 years.
• The company expects to grow its business through organic growth and acquisitions.
• Recent product launches and partnerships include enhanced online banking features and collaborations with local businesses.

Market Dynamics:

• The banking industry is highly competitive and subject to technological change.
• Parke Bancorp Inc. is well-positioned within the industry due to its strong financial performance and local market focus.
• The bank is adapting to market changes through digital innovation and personalized customer service.

Competitors:

• The company's main competitors include TD Bank Group (TD), PNC Financial Services Group (PNC), and M&T Bank Corporation (MTB).
• Parke Bancorp Inc. has a smaller market share than its larger competitors but enjoys a loyal customer base in its local area.

Challenges and Opportunities:

Challenges:

• The company faces challenges from larger competitors and technological advancements disrupting the financial industry.

Opportunities:

• Growth potential through acquisitions and expanding its local market presence,
• Opportunities to introduce innovative products and services.

Recent Acquisitions (last 3 years):

• Parke Bancorp Inc. did not acquire any company in the last 3 years.

AI-Based Fundamental Rating:

• Rating: 7.5
• Justification: Parke Bancorp Inc. has a good financial performance, is well-positioned in a growing market, but faces competition from larger banks.

Disclaimer: This information is for educational purposes only and should not be considered financial advice. Please consult with a financial professional before making any investment decisions.

Sources:

• Parke Bancorp Inc. website (https://www.parkebank.com/)
• NASDAQ stock information (https://www.nasdaq.com/market-activity/stocks/pkbk)
• Financial data from SEC filings
• Company press releases