Arrowstreet Capital Limited Partnership Acquires New Position in Parke Bancorp, Inc. (NASDAQ:PKBK)

Arrowstreet Capital Limited Partnership purchased a new stake in shares of Parke Bancorp, Inc. (NASDAQ:PKBK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,748 shares of the bank's stock, valued at approximately $426,000. Arrowstreet Capital Limited Partnership owned approximately 0.17% of Parke Bancorp at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Parke Bancorp by 135.8% during the 4th quarter. JPMorgan Chase & Co. now owns 37,926 shares of the bank's stock valued at $778,000 after purchasing an additional 21,841 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Parke Bancorp by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,324 shares of the bank's stock valued at $622,000 after buying an additional 1,574 shares during the last quarter. Rhumbline Advisers increased its position in shares of Parke Bancorp by 5.2% during the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank's stock valued at $318,000 after acquiring an additional 767 shares in the last quarter. Empowered Funds LLC raised its holdings in Parke Bancorp by 5.1% in the 4th quarter. Empowered Funds LLC now owns 47,799 shares of the bank's stock worth $980,000 after acquiring an additional 2,333 shares during the last quarter. Finally, Barclays PLC raised its holdings in Parke Bancorp by 306.7% in the 3rd quarter. Barclays PLC now owns 13,575 shares of the bank's stock worth $284,000 after acquiring an additional 10,237 shares during the last quarter. 49.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Parke Bancorp from a "buy" rating to a "hold" rating in a research note on Friday, March 28th.

Parke Bancorp Stock Performance

Shares of Parke Bancorp stock traded up $0.39 during trading on Friday, hitting $17.54. 20,571 shares of the company's stock traded hands, compared to its average volume of 24,545. Parke Bancorp, Inc. has a 1 year low of $15.24 and a 1 year high of $24.29. The business has a 50-day simple moving average of $18.79 and a 200-day simple moving average of $20.39. The stock has a market capitalization of $207.73 million, a P/E ratio of 7.73 and a beta of 0.56. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.65 EPS for the quarter. The business had revenue of $17.43 million during the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.

Parke Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Friday, April 4th. Parke Bancorp's payout ratio is 31.72%.

Insider Activity at Parke Bancorp

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 6,101 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $20.12, for a total value of $122,752.12. Following the transaction, the director now directly owns 54,353 shares in the company, valued at approximately $1,093,582.36. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 7,160 shares of company stock worth $143,947. 15.33% of the stock is owned by company insiders.

Parke Bancorp Profile

Parke Bancorp, Inc operates as the bank holding company for Parke Bank that provides personal and business financial services to individuals and small to mid-sized businesses. The company offers various deposit products, including checking, savings, time, money market, and individual retirement accounts, as well as certificates of deposit.