JPMorgan Chase & Co. Boosts Holdings in Parke Bancorp, Inc. (NASDAQ:PKBK)

JPMorgan Chase & Co. increased its stake in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 12.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,085 shares of the bank’s stock after purchasing an additional 1,842 shares during the period. JPMorgan Chase & Co. owned 0.14% of Parke Bancorp worth $336,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PKBK. Dimensional Fund Advisors LP raised its position in shares of Parke Bancorp by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank’s stock valued at $8,309,000 after buying an additional 22,374 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Parke Bancorp by 0.6% during 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 during the period. Empowered Funds LLC lifted its stake in shares of Parke Bancorp by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 45,466 shares of the bank’s stock worth $950,000 after purchasing an additional 2,278 shares during the period. Fourthstone LLC boosted 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 worth $563,000 after purchasing an additional 2,844 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in Parke Bancorp by 6.7% in the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock valued at $293,000 after purchasing an additional 880 shares during the last quarter. Institutional investors and hedge funds own 49.69% of the company’s stock.

Insider Transactions at Parke Bancorp

In other news, Director Jeffrey H. Kripitz sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $22.77, for a total value of $227,700.00. Following the completion of the sale, the director now owns 73,013 shares of the company’s stock, valued at $1,662,506.01. This represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 15.33% of the company’s stock.

Parke Bancorp Stock Performance

Shares of PKBK stock opened at $20.24 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market capitalization of $240.55 million, a price-to-earnings ratio of 8.69 and a beta of 0.73. Parke Bancorp, Inc. has a one year low of $15.24 and a one year high of $24.29. The company has a 50 day moving average price of $21.17 and a 200 day moving average price of $20.71.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings data on Friday, January 24th. The bank reported $0.61 EPS for the quarter. Parke Bancorp had a return on equity of 9.75% and a net margin of 22.32%.

Parke Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Friday, January 3rd. Parke Bancorp’s payout ratio is currently 31.72%.

Analyst Ratings Changes

Separately, StockNews.com lowered Parke Bancorp from a “buy” rating to a “hold” rating in a research note on Monday.

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.