Bank of New York Mellon Corp cut its holdings in shares of Parke Bancorp, Inc. (NASDAQ:PKBK - Free Report) by 36.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,023 shares of the bank's stock after selling 18,091 shares during the period. Bank of New York Mellon Corp owned approximately 0.27% of Parke Bancorp worth $657,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Parke Bancorp by 306.7% during the 3rd quarter. Barclays PLC now owns 13,575 shares of the bank's stock valued at $284,000 after acquiring an additional 10,237 shares during the last quarter. Fourthstone LLC lifted its holdings in shares of Parke Bancorp by 11.8% during the third quarter. Fourthstone LLC now owns 26,957 shares of the bank's stock valued at $563,000 after purchasing an additional 2,844 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Parke Bancorp by 5.1% during the fourth quarter. Empowered Funds LLC now owns 47,799 shares of the bank's stock valued at $980,000 after purchasing an additional 2,333 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Parke Bancorp by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank's stock valued at $336,000 after purchasing an additional 1,842 shares during the period. Finally, Geode Capital Management LLC increased its stake in Parke Bancorp by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 231,800 shares of the bank's stock worth $4,845,000 after purchasing an additional 1,447 shares in the last quarter. 49.69% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered shares of Parke Bancorp from a "buy" rating to a "hold" rating in a report on Friday.
View Our Latest Stock Analysis on Parke Bancorp
Insider Buying and Selling
In related news, Director Jeffrey H. Kripitz sold 6,101 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 of the company's stock, valued at approximately $1,093,582.36. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 7,160 shares of company stock worth $143,947. Corporate insiders own 15.33% of the company's stock.
Parke Bancorp Stock Down 0.1 %
Parke Bancorp stock traded down $0.02 during mid-day trading on Friday, hitting $18.93. The company's stock had a trading volume of 21,299 shares, compared to its average volume of 24,344. 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, Inc. has a 52-week low of $15.24 and a 52-week high of $24.29. The firm's 50 day moving average is $19.44 and its 200 day moving average is $20.73. The company has a market cap of $224.19 million, a PE ratio of 8.34 and a beta of 0.73.
Parke Bancorp (NASDAQ:PKBK - Get Free Report) last posted its quarterly earnings results on Friday, January 24th. The bank reported $0.61 EPS for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.
Parke Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Friday, April 4th. Parke Bancorp's dividend payout ratio (DPR) is presently 31.72%.
About Parke Bancorp
(
Free Report)
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.
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