Parke Bancorp, Inc. (NASDAQ:PKBK) Shares Bought by Fourthstone LLC

Fourthstone LLC boosted its holdings in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 11.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,957 shares of the bank’s stock after purchasing an additional 2,844 shares during the quarter. Fourthstone LLC’s holdings in Parke Bancorp were worth $563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. BNP Paribas Financial Markets increased its stake in shares of Parke Bancorp by 56.3% in the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock worth $72,000 after acquiring an additional 1,235 shares during the period. Empowered Funds LLC grew its position in 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. International Assets Investment Management LLC grew its position in Parke Bancorp by 1,990.2% during the 3rd quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank’s stock worth $53,000 after purchasing an additional 2,428 shares during the period. Private Advisor Group LLC purchased a new position in shares of Parke Bancorp during the 3rd quarter valued at about $211,000. Finally, Lakewood Asset Management LLC lifted 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 buying an additional 997 shares during the period. 49.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Daniel J. Dalton sold 5,000 shares of Parke Bancorp stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $20.96, for a total value of $104,800.00. Following the sale, the chairman now owns 71,319 shares of the company’s stock, valued at approximately $1,494,846.24. This trade represents a 6.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey H. Kripitz sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $22.77, for a total transaction of $227,700.00. Following the completion of the sale, the director now directly owns 73,013 shares of the company’s stock, valued at approximately $1,662,506.01. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. 15.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Parke Bancorp from a “hold” rating to a “buy” rating in a report on Monday, October 21st.

Parke Bancorp Stock Performance

Shares of NASDAQ:PKBK traded down $0.16 during trading on Thursday, hitting $23.56. 8,997 shares of the stock traded hands, compared to its average volume of 22,894. 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 fifty day moving average price of $21.63 and a two-hundred day moving average price of $19.21. Parke Bancorp, Inc. has a 52-week low of $15.24 and a 52-week high of $24.29. The company has a market cap of $280.13 million, a price-to-earnings ratio of 10.11 and a beta of 0.69.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.62 EPS for the quarter. The company had revenue of $15.62 million for the quarter. Parke Bancorp had a net margin of 22.32% and a return on equity of 9.75%.

Parke Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.72 annualized dividend and a dividend yield of 3.06%. Parke Bancorp’s dividend payout ratio is presently 30.90%.

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.