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

Bank of New York Mellon Corp cut its stake in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 36.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 32,023 shares of the bank’s stock after selling 18,091 shares during the period. Bank of New York Mellon Corp owned about 0.27% of Parke Bancorp worth $657,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in shares of Parke Bancorp by 56.3% during the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock worth $72,000 after purchasing an additional 1,235 shares in the last quarter. Barclays PLC boosted its holdings in Parke Bancorp by 306.7% in the 3rd quarter. Barclays PLC now owns 13,575 shares of the bank’s stock worth $284,000 after buying an additional 10,237 shares during the last quarter. Jane Street Group LLC increased its stake in Parke Bancorp by 6.7% during the 3rd quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock worth $293,000 after buying an additional 880 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Parke Bancorp by 5.2% during the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock valued at $318,000 after acquiring an additional 767 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Parke Bancorp by 12.9% in the third 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 in the last quarter. 49.69% of the stock is owned by hedge funds and other institutional investors.

Parke Bancorp Price Performance

Parke Bancorp stock opened at $18.77 on Thursday. The company has a fifty day simple moving average of $19.48 and a 200-day simple moving average of $20.74. The firm has a market capitalization of $222.29 million, a price-to-earnings ratio of 8.27 and a beta of 0.73. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. Parke Bancorp, Inc. has a 52-week low of $15.24 and a 52-week high of $24.29.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Friday, January 24th. The bank reported $0.61 earnings per share 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 declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be given a $0.18 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.84%. Parke Bancorp’s dividend payout ratio (DPR) is presently 31.72%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Parke Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th.

Insider Activity at Parke Bancorp

In related news, Director Jeffrey H. Kripitz sold 6,101 shares of the company’s 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 completion of the sale, the director now 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 document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 7,160 shares of company stock valued at $143,947. 15.33% of the stock is currently owned by insiders.

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.