Empowered Funds LLC Invests $5.28 Million in Parke Bancorp, Inc. $PKBK

Empowered Funds LLC acquired a new stake in Parke Bancorp, Inc. (NASDAQ:PKBK) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 159,164 shares of the bank’s stock, valued at approximately $5,278,000. Empowered Funds LLC owned approximately 1.35% of Parke Bancorp as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Legal & General Group Plc acquired a new position in Parke Bancorp during the second quarter worth about $31,000. Russell Investments Group Ltd. boosted its stake in shares of Parke Bancorp by 66.2% in 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 in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Parke Bancorp by 44.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock valued at $66,000 after purchasing an additional 999 shares during the last quarter. Byrne Asset Management LLC grew its holdings in shares of Parke Bancorp by 14.3% during the 2nd quarter. Byrne Asset Management LLC now owns 3,200 shares of the bank’s stock valued at $106,000 after purchasing an additional 400 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Parke Bancorp during the 4th quarter valued at approximately $204,000. Institutional investors own 49.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PKBK. Wall Street Zen raised shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parke Bancorp in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Parke Bancorp currently has an average rating of “Buy”.

Insider Activity at Parke Bancorp

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

Parke Bancorp Price Performance

Parke Bancorp stock opened at $33.75 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $396.90 million, a PE ratio of 8.79 and a beta of 0.47. Parke Bancorp, Inc. has a 12 month low of $19.71 and a 12 month high of $35.70. The stock has a 50-day moving average price of $33.60 and a two-hundred day moving average price of $30.97.

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

Parke Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.80 annualized dividend and a yield of 2.4%. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.18. Parke Bancorp’s dividend payout ratio is 20.83%.

About Parke Bancorp

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.