Fulton Bank N.A. Sells 30,964 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK)

Fulton Bank N.A. lessened its stake in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 41.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,941 shares of the bank’s stock after selling 30,964 shares during the quarter. Fulton Bank N.A. owned about 0.36% of Parke Bancorp worth $897,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in shares of Parke Bancorp by 80.1% in the first 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 in the last quarter. Squarepoint Ops LLC bought a new position in Parke Bancorp in the 2nd quarter worth about $186,000. Quadrature Capital Ltd purchased a new stake in shares of Parke Bancorp in the 1st quarter valued at about $198,000. Lakewood Asset Management LLC raised its holdings in shares of Parke Bancorp by 8.2% in the 3rd quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank’s stock valued at $274,000 after acquiring an additional 997 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Parke Bancorp by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank’s stock valued at $999,000 after acquiring an additional 4,076 shares during the last quarter. 49.69% of the stock is owned by hedge funds and other institutional investors.

Parke Bancorp Trading Down 2.2 %

Shares of PKBK opened at $19.96 on Wednesday. Parke Bancorp, Inc. has a 1-year low of $15.16 and a 1-year high of $22.00. The company has a market capitalization of $238.78 million, a P/E ratio of 10.34 and a beta of 0.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.30. The firm’s 50 day simple moving average is $19.98 and its 200 day simple moving average is $17.87.

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

Parke Bancorp Dividend Announcement

The company also recently declared 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. This represents a $0.72 annualized dividend and a yield of 3.61%. The ex-dividend date is Friday, October 4th. Parke Bancorp’s dividend payout ratio (DPR) is currently 37.31%.

Insider Transactions at Parke Bancorp

In related news, COO Ralph Martin Gallo sold 7,700 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $19.63, for a total transaction of $151,151.00. Following the transaction, the chief operating officer now directly owns 404 shares of the company’s stock, valued at approximately $7,930.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 15.33% of the company’s stock.

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.