Rhumbline Advisers Purchases 767 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK)

Rhumbline Advisers boosted its position in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 5.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 15,495 shares of the bank’s stock after purchasing an additional 767 shares during the quarter. Rhumbline Advisers owned about 0.13% of Parke Bancorp worth $318,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC grew its holdings in shares of Parke Bancorp by 5.1% during the fourth quarter. Empowered Funds LLC now owns 47,799 shares of the bank’s stock valued at $980,000 after buying an additional 2,333 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in 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 purchasing an additional 1,842 shares during the last quarter. Barclays PLC boosted its stake in Parke Bancorp by 306.7% during the 3rd quarter. Barclays PLC now owns 13,575 shares of the bank’s stock valued at $284,000 after purchasing an additional 10,237 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Parke Bancorp by 0.6% in 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 in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Parke Bancorp by 6.7% in the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock worth $293,000 after purchasing an additional 880 shares during the last quarter. 49.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Parke Bancorp

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 6,101 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $20.12, for a total value of $122,752.12. Following the transaction, the director now directly owns 54,353 shares in the company, valued at approximately $1,093,582.36. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 7,160 shares of company stock valued at $143,947. 15.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Parke Bancorp Stock Performance

Shares of PKBK stock opened at $18.85 on Monday. 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 company has a 50 day moving average price of $19.77 and a 200-day moving average price of $20.90. Parke Bancorp, Inc. has a 52 week low of $15.24 and a 52 week high of $24.29. The firm has a market capitalization of $224.03 million, a PE ratio of 8.30 and a beta of 0.73.

Parke Bancorp (NASDAQ:PKBK) last posted its earnings results on Friday, January 24th. The bank reported $0.61 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 company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date was Friday, January 3rd. Parke Bancorp’s dividend payout ratio is 31.72%.

Parke Bancorp 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.