Arrowstreet Capital Limited Partnership Makes New Investment in Parke Bancorp, Inc. (NASDAQ:PKBK)

Arrowstreet Capital Limited Partnership purchased a new stake in Parke Bancorp, Inc. (NASDAQ:PKBK) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 20,748 shares of the bank’s stock, valued at approximately $426,000. Arrowstreet Capital Limited Partnership owned approximately 0.17% of Parke Bancorp as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in Parke Bancorp by 5.2% during the 4th quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock valued at $318,000 after buying an additional 767 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Parke Bancorp by 6.7% in the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock valued at $293,000 after acquiring an additional 880 shares during the period. BNP Paribas Financial Markets grew its stake in Parke Bancorp by 56.3% during the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock valued at $72,000 after acquiring an additional 1,235 shares in the last quarter. Geode Capital Management LLC increased its holdings in Parke Bancorp by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock worth $4,845,000 after acquiring an additional 1,447 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Parke Bancorp by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,324 shares of the bank’s stock worth $622,000 after purchasing an additional 1,574 shares in the last quarter. 49.69% of the stock is currently owned by institutional investors.

Parke Bancorp Price Performance

Parke Bancorp stock opened at $17.49 on Monday. The stock has a market cap of $207.13 million, a price-to-earnings ratio of 7.70 and a beta of 0.56. 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 50-day simple moving average of $18.99 and a 200 day simple moving average of $20.48. Parke Bancorp, Inc. has a 52 week low of $15.24 and a 52 week high of $24.29.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings data 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 business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders 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 4.12%. The ex-dividend date is Friday, April 4th. Parke Bancorp’s payout ratio is 31.72%.

Insider Activity

In related news, Director Jeffrey H. Kripitz sold 6,101 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $20.12, for a total value of $122,752.12. Following the completion of the transaction, the director now directly owns 54,353 shares in the company, valued at approximately $1,093,582.36. The trade was a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 7,160 shares of company stock worth $143,947. 12.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Parke Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, March 28th.

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.