Fulton Bank N.A. Reduces Stock Holdings in Parke Bancorp, Inc. (NASDAQ:PKBK)

Fulton Bank N.A. reduced its holdings in shares of Parke Bancorp, Inc. (NASDAQ:PKBK - Free Report) by 41.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 42,941 shares of the bank's stock after selling 30,964 shares during the period. Fulton Bank N.A. owned about 0.36% of Parke Bancorp worth $897,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PKBK. Vanguard Group Inc. grew its holdings in Parke Bancorp by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 514,393 shares of the bank's stock worth $8,860,000 after acquiring an additional 5,698 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Parke Bancorp by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank's stock valued at $8,309,000 after acquiring an additional 22,374 shares during the period. Pacific Ridge Capital Partners LLC raised its position in shares of Parke Bancorp by 3.9% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 371,714 shares of the bank's stock worth $6,403,000 after acquiring an additional 14,032 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Parke Bancorp by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank's stock worth $999,000 after purchasing an additional 4,076 shares during the last quarter. Finally, Lakewood Asset Management LLC boosted its position in Parke Bancorp by 8.2% during the third quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank's stock valued at $274,000 after purchasing an additional 997 shares in the last quarter. Institutional investors own 49.69% of the company's stock.

Parke Bancorp Stock Up 2.2 %

PKBK traded up $0.43 on Wednesday, hitting $20.39. The company had a trading volume of 44,051 shares, compared to its average volume of 23,317. The stock has a market capitalization of $243.93 million, a price-to-earnings ratio of 10.40 and a beta of 0.70. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a fifty day moving average price of $19.98 and a 200-day moving average price of $17.87. Parke Bancorp, Inc. has a 12-month low of $15.16 and a 12-month high of $22.00.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.53 EPS for the quarter. The firm had revenue of $31.39 million during the quarter. Parke Bancorp had a net margin of 17.49% and a return on equity of 10.19%.

Parke Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, October 4th. This represents a $0.72 annualized dividend and a yield of 3.53%. Parke Bancorp's dividend payout ratio (DPR) is 37.31%.

Insider Buying and Selling

In other news, COO Ralph Martin Gallo sold 7,700 shares of the company's stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $19.63, for a total transaction of $151,151.00. Following the transaction, the chief operating officer now owns 404 shares in the company, valued at $7,930.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.33% of the stock is owned by company insiders.

About Parke Bancorp

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.