Bank of New York Mellon Corp Has $590,000 Position in Parke Bancorp, Inc. (NASDAQ:PKBK)

Bank of New York Mellon Corp cut its stake in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 2.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,333 shares of the bank’s stock after selling 690 shares during the quarter. Bank of New York Mellon Corp owned 0.26% of Parke Bancorp worth $590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its holdings in shares of Parke Bancorp by 15.6% during the fourth quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank’s stock worth $204,000 after buying an additional 1,343 shares in the last quarter. Barclays PLC grew its position in Parke Bancorp by 16.3% during the 4th quarter. Barclays PLC now owns 15,794 shares of the bank’s stock worth $324,000 after acquiring an additional 2,219 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in Parke Bancorp by 2.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 109,466 shares of the bank’s stock worth $2,245,000 after purchasing an additional 2,333 shares in the last quarter. Marshall Wace LLP bought a new position in Parke Bancorp in the fourth quarter valued at about $364,000. Finally, Millennium Management LLC acquired a new stake in shares of Parke Bancorp during the fourth quarter valued at about $413,000. 49.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Parke Bancorp Trading Down 1.6%

Shares of NASDAQ PKBK opened at $20.31 on Friday. The firm has a 50 day moving average price of $20.41 and a two-hundred day moving average price of $19.60. The stock has a market cap of $240.47 million, a P/E ratio of 7.90 and a beta of 0.64. Parke Bancorp, Inc. has a 52-week low of $16.94 and a 52-week high of $24.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.24 and a current ratio of 1.24.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings data on Wednesday, July 16th. The bank reported $0.69 earnings per share for the quarter. The company had revenue of $18.69 million for the quarter. Parke Bancorp had a net margin of 22.44% and a return on equity of 10.31%.

Parke Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, July 3rd. Parke Bancorp’s payout ratio is currently 28.02%.

Parke Bancorp 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.