Bank of America Corp DE Sells 745 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK)

Bank of America Corp DE cut its holdings in Parke Bancorp, Inc. (NASDAQ:PKBK) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,025 shares of the bank’s stock after selling 745 shares during the period. Bank of America Corp DE owned 0.10% of Parke Bancorp worth $247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Parke Bancorp by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 522,646 shares of the bank’s stock valued at $10,720,000 after buying an additional 27,354 shares during the last quarter. Ategra Capital Management LLC increased its holdings in Parke Bancorp by 52.1% in the 4th quarter. Ategra Capital Management LLC now owns 344,741 shares of the bank’s stock valued at $7,071,000 after acquiring an additional 118,069 shares during the last quarter. Empowered Funds LLC lifted its stake in Parke Bancorp by 5.1% in the 4th quarter. Empowered Funds LLC now owns 47,799 shares of the bank’s stock worth $980,000 after purchasing an additional 2,333 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Parke Bancorp by 135.8% in the 4th quarter. JPMorgan Chase & Co. now owns 37,926 shares of the bank’s stock worth $778,000 after purchasing an additional 21,841 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Parke Bancorp by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,324 shares of the bank’s stock valued at $622,000 after purchasing an additional 1,574 shares during the last quarter. 49.69% of the stock is currently owned by institutional investors.

Parke Bancorp Stock Performance

NASDAQ:PKBK opened at $19.20 on Friday. The company has a market cap of $227.39 million, a price-to-earnings ratio of 8.46 and a beta of 0.58. Parke Bancorp, Inc. has a 1 year low of $15.24 and a 1 year high of $24.29. The stock’s 50 day simple moving average is $19.05 and its two-hundred day simple moving average is $19.70. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27.

Parke Bancorp (NASDAQ:PKBK) last posted its earnings results on Thursday, April 17th. The bank reported $0.65 earnings per share for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%. The firm had revenue of $17.43 million during the quarter.

Parke Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were paid a $0.18 dividend. The ex-dividend date was Friday, April 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.75%. Parke Bancorp’s payout ratio is currently 29.88%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Parke Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, June 7th.

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.