Bank of New York Mellon Corp Lowers Holdings in Parke Bancorp, Inc. (NASDAQ:PKBK)

Bank of New York Mellon Corp decreased its holdings in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 36.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,023 shares of the bank’s stock after selling 18,091 shares during the quarter. Bank of New York Mellon Corp’s holdings in Parke Bancorp were worth $657,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its holdings in shares of Parke Bancorp by 56.3% during the 3rd 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 during the period. Fourthstone LLC lifted its position in Parke Bancorp by 11.8% in the third quarter. Fourthstone LLC now owns 26,957 shares of the bank’s stock valued at $563,000 after buying an additional 2,844 shares during the last quarter. Jane Street Group LLC boosted its stake in Parke Bancorp by 6.7% during the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock worth $293,000 after buying an additional 880 shares during the period. Barclays PLC increased its position in shares of Parke Bancorp by 306.7% during the third quarter. Barclays PLC now owns 13,575 shares of the bank’s stock valued at $284,000 after acquiring an additional 10,237 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake 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 valued at $4,845,000 after acquiring an additional 1,447 shares during the period. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Jeffrey H. Kripitz sold 6,101 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $20.12, for a total transaction of $122,752.12. Following the completion of the transaction, the director now directly owns 54,353 shares of the company’s stock, valued at $1,093,582.36. The trade was a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 7,160 shares of company stock valued at $143,947 in the last ninety days. Company insiders own 15.33% of the company’s stock.

Analyst Ratings Changes

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

Parke Bancorp Trading Up 0.1 %

PKBK opened at $18.77 on Thursday. Parke Bancorp, Inc. has a 52 week low of $15.24 and a 52 week high of $24.29. 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 business 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 cap of $222.29 million, a P/E ratio of 8.27 and a beta of 0.73.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Friday, January 24th. The bank reported $0.61 EPS for the quarter. Parke Bancorp had a return on equity of 9.41% and a net margin of 21.25%.

Parke Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, April 4th. Parke Bancorp’s dividend payout ratio (DPR) is currently 31.72%.

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.