Empowered Funds LLC Buys 2,278 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK)

Empowered Funds LLC increased its stake in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,466 shares of the bank’s stock after acquiring an additional 2,278 shares during the quarter. Empowered Funds LLC owned about 0.38% of Parke Bancorp worth $950,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Parke Bancorp by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 514,393 shares of the bank’s stock valued at $8,860,000 after purchasing an additional 5,698 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Parke Bancorp by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank’s stock valued at $8,309,000 after buying an additional 22,374 shares during the last quarter. Fulton Bank N.A. grew its holdings in Parke Bancorp by 52.1% during the 2nd quarter. Fulton Bank N.A. now owns 73,905 shares of the bank’s stock valued at $1,286,000 after buying an additional 25,314 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Parke Bancorp by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank’s stock worth $999,000 after acquiring an additional 4,076 shares during the last quarter. Finally, Lakewood Asset Management LLC raised its holdings in shares of Parke Bancorp by 8.2% during the 3rd quarter. Lakewood Asset Management LLC now owns 13,130 shares of the bank’s stock worth $274,000 after acquiring an additional 997 shares in the last quarter. 49.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Chairman Daniel J. Dalton sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $20.96, for a total transaction of $104,800.00. Following the transaction, the chairman now owns 71,319 shares of the company’s stock, valued at approximately $1,494,846.24. This represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey H. Kripitz sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $22.77, for a total value of $227,700.00. Following the sale, the director now directly owns 73,013 shares of the company’s stock, valued at $1,662,506.01. This represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.33% of the company’s stock.

Parke Bancorp Stock Up 2.3 %

Shares of NASDAQ PKBK opened at $23.55 on Friday. The stock has a market capitalization of $280.01 million, a price-to-earnings ratio of 10.03 and a beta of 0.69. Parke Bancorp, Inc. has a 12-month low of $15.24 and a 12-month high of $23.55. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. The firm’s 50-day moving average price is $21.44 and its 200-day moving average price is $19.00.

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

Parke Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, October 4th. Parke Bancorp’s dividend payout ratio (DPR) is 30.90%.

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.