Bank of New York Mellon Corp Increases Stock Position in Parke Bancorp, Inc. (NASDAQ:PKBK)

Bank of New York Mellon Corp boosted its position in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 7.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,428 shares of the bank’s stock after buying an additional 4,076 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.48% of Parke Bancorp worth $999,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PKBK. Fulton Bank N.A. boosted its stake in shares of Parke Bancorp by 52.1% during the 2nd quarter. Fulton Bank N.A. now owns 73,905 shares of the bank’s stock worth $1,286,000 after acquiring an additional 25,314 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Parke Bancorp in the first quarter valued at approximately $198,000. Vanguard Group Inc. grew its holdings in Parke Bancorp by 1.1% in the first quarter. Vanguard Group Inc. now owns 514,393 shares of the bank’s stock valued at $8,860,000 after purchasing an additional 5,698 shares during the period. Pacific Ridge Capital Partners LLC increased its position in shares of Parke Bancorp by 3.9% in the first quarter. Pacific Ridge Capital Partners LLC now owns 371,714 shares of the bank’s stock valued at $6,403,000 after buying an additional 14,032 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Parke Bancorp by 80.1% during the 1st 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. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Insiders Place Their Bets

In other news, COO Ralph Martin Gallo sold 7,700 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $19.63, for a total value of $151,151.00. Following the transaction, the chief operating officer now owns 404 shares in the company, valued at $7,930.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.33% of the stock is owned by company insiders.

Parke Bancorp Trading Down 3.0 %

Shares of NASDAQ:PKBK opened at $21.04 on Friday. 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 business’s 50 day moving average price is $19.60 and its 200-day moving average price is $17.53. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.30. Parke Bancorp, Inc. has a 1 year low of $15.16 and a 1 year high of $22.00.

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

Parke Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.72 annualized dividend and a yield of 3.42%. Parke Bancorp’s dividend payout ratio (DPR) is currently 37.31%.

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.