Parke Bancorp, Inc. (NASDAQ:PKBK) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its stake in Parke Bancorp, Inc. (NASDAQ:PKBK) by 18.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,306 shares of the bank’s stock after selling 7,828 shares during the period. Commonwealth Equity Services LLC owned 0.29% of Parke Bancorp worth $597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of PKBK. BNP Paribas Financial Markets boosted its stake in shares of Parke Bancorp by 80.1% during the first quarter. BNP Paribas Financial Markets now owns 5,195 shares of the bank’s stock worth $89,000 after buying an additional 2,310 shares during the period. Quadrature Capital Ltd acquired a new stake in Parke Bancorp during the first quarter worth approximately $198,000. Fulton Bank N.A. acquired a new stake in Parke Bancorp during the first quarter worth approximately $837,000. Bank of New York Mellon Corp boosted its holdings in shares of Parke Bancorp by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank’s stock valued at $999,000 after purchasing an additional 4,076 shares during the last quarter. Finally, Cutler Capital Management LLC boosted its holdings in shares of Parke Bancorp by 0.4% in the 4th quarter. Cutler Capital Management LLC now owns 307,829 shares of the bank’s stock valued at $6,234,000 after purchasing an additional 1,373 shares during the last quarter. Institutional investors and hedge funds own 49.69% of the company’s stock.

Parke Bancorp Stock Performance

NASDAQ:PKBK opened at $21.04 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $252.06 million, a price-to-earnings ratio of 10.90 and a beta of 0.69. The firm’s fifty day simple moving average is $19.60 and its 200 day simple moving average is $17.52. Parke Bancorp, Inc. has a twelve month low of $15.16 and a twelve month high of $22.00.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.53 earnings per share (EPS) for the quarter. Parke Bancorp had a net margin of 17.49% and a return on equity of 10.19%. The firm had revenue of $31.39 million for the quarter.

Parke Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Friday, October 4th. Parke Bancorp’s payout ratio is currently 37.31%.

Insider Transactions at Parke Bancorp

In related news, COO Ralph Martin Gallo sold 7,700 shares of the business’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 completion of the sale, the chief operating officer now owns 404 shares of the company’s stock, valued at approximately $7,930.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 15.33% of the company’s stock.

Parke Bancorp Company 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.