Empowered Funds LLC Purchases 2,333 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK)

Empowered Funds LLC lifted its position in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,799 shares of the bank’s stock after purchasing an additional 2,333 shares during the period. Empowered Funds LLC owned 0.40% of Parke Bancorp worth $980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PKBK. Geode Capital Management LLC boosted its position in Parke Bancorp by 0.6% in the third 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 last quarter. Fourthstone LLC raised its position in Parke Bancorp by 11.8% in the third quarter. Fourthstone LLC now owns 26,957 shares of the bank’s stock worth $563,000 after acquiring an additional 2,844 shares during the period. JPMorgan Chase & Co. grew its position in shares of Parke Bancorp by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock valued at $336,000 after acquiring an additional 1,842 shares during the period. Jane Street Group LLC grew its holdings in Parke Bancorp by 6.7% during 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 period. Finally, Barclays PLC raised its stake in shares of Parke Bancorp by 306.7% in the third quarter. Barclays PLC now owns 13,575 shares of the bank’s stock valued at $284,000 after buying an additional 10,237 shares during the period. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Parke Bancorp Price Performance

PKBK opened at $19.66 on Tuesday. The company has a market capitalization of $233.76 million, a price-to-earnings ratio of 8.66 and a beta of 0.72. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $20.34 and a 200-day moving average price of $20.81. Parke Bancorp, Inc. has a twelve month low of $15.24 and a twelve month high of $24.29.

Parke Bancorp (NASDAQ:PKBK) last issued its earnings results on Friday, January 24th. The bank reported $0.61 earnings per share (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 disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were issued a dividend of $0.18 per share. The ex-dividend date was Friday, January 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 3.66%. Parke Bancorp’s dividend payout ratio (DPR) is 31.72%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Parke Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, January 27th.

Insiders Place Their Bets

In other news, Director Jeffrey H. Kripitz sold 6,101 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $20.12, for a total value of $122,752.12. Following the sale, the director now directly owns 54,353 shares of the company’s stock, valued at approximately $1,093,582.36. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 17,160 shares of company stock worth $371,647 in the last quarter. 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.