17,060 Shares in Parke Bancorp, Inc. $PKBK Bought by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new position in Parke Bancorp, Inc. (NASDAQ:PKBK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 17,060 shares of the bank’s stock, valued at approximately $566,000.

Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in shares of Parke Bancorp by 66.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock valued at $46,000 after purchasing an additional 855 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Parke Bancorp by 44.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock worth $66,000 after buying an additional 999 shares during the last quarter. Byrne Asset Management LLC boosted its holdings in shares of Parke Bancorp by 14.3% in the 2nd quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank’s stock worth $106,000 after buying an additional 400 shares during the last quarter. Engineers Gate Manager LP bought a new position in Parke Bancorp during the fourth quarter valued at about $204,000. Finally, Panagora Asset Management Inc. bought a new position in Parke Bancorp during the fourth quarter valued at about $221,000. Institutional investors own 49.69% of the company’s stock.

Insider Activity

In related news, CFO Jonathan D. Hill sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.96, for a total value of $69,920.00. Following the completion of the transaction, the chief financial officer directly owned 30 shares of the company’s stock, valued at approximately $1,048.80. This trade represents a 98.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vito S. Pantilione acquired 1,300 shares of Parke Bancorp stock in a transaction that occurred on Wednesday, July 29th. The stock was acquired at an average price of $33.68 per share, with a total value of $43,784.00. Following the completion of the purchase, the chief executive officer directly owned 237,829 shares in the company, valued at $8,010,080.72. This represents a 0.55% increase in their position. The SEC filing for this purchase provides additional information. 12.97% of the stock is owned by company insiders.

Parke Bancorp Stock Up 0.8%

PKBK stock opened at $34.15 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $401.60 million, a price-to-earnings ratio of 8.89 and a beta of 0.47. Parke Bancorp, Inc. has a fifty-two week low of $19.71 and a fifty-two week high of $35.70. The stock has a fifty day moving average of $33.31 and a 200-day moving average of $30.70.

Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.03 earnings per share for the quarter. Parke Bancorp had a return on equity of 13.88% and a net margin of 29.99%.The company had revenue of $23.89 million during the quarter.

Parke Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were given a dividend of $0.20 per share. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Thursday, July 2nd. Parke Bancorp’s dividend payout ratio (DPR) is 20.83%.

Analyst Upgrades and Downgrades

PKBK has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parke Bancorp in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Parke Bancorp Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.