Basswood Capital Management L.L.C. Sells 2,235 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK)

Basswood Capital Management L.L.C. reduced its position in Parke Bancorp, Inc. (NASDAQ:PKBK) by 1.2% during the third quarter, Holdings Channel reports. The institutional investor owned 182,694 shares of the bank’s stock after selling 2,235 shares during the quarter. Basswood Capital Management L.L.C.’s holdings in Parke Bancorp were worth $3,818,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PKBK. Private Advisor Group LLC purchased a new stake in Parke Bancorp during the third quarter valued at approximately $211,000. Bank of New York Mellon Corp increased its position in shares of Parke Bancorp by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank’s stock worth $999,000 after purchasing an additional 4,076 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Parke Bancorp by 1,990.2% during the 3rd quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank’s stock valued at $53,000 after purchasing an additional 2,428 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Parke Bancorp in the 2nd quarter worth $186,000. Finally, Vanguard Group Inc. grew its stake in Parke Bancorp by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 514,393 shares of the bank’s stock worth $8,860,000 after buying an additional 5,698 shares during the last quarter. 49.69% of the stock is currently owned by institutional investors.

Parke Bancorp Stock Performance

Shares of Parke Bancorp stock opened at $23.61 on Monday. The company has a 50 day moving average price of $21.72 and a 200 day moving average price of $19.32. The firm has a market capitalization of $280.60 million, a P/E ratio of 10.13 and a beta of 0.69. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. Parke Bancorp, Inc. has a 52 week low of $15.24 and a 52 week high of $24.29.

Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.62 earnings per share for the quarter. The firm had revenue of $15.62 million for the quarter. Parke Bancorp had a net margin of 22.32% and a return on equity of 9.75%.

Parke Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, October 4th. Parke Bancorp’s dividend payout ratio (DPR) is currently 30.90%.

Insider Transactions at Parke Bancorp

In other news, Chairman Daniel J. Dalton sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $20.96, for a total transaction of $104,800.00. Following the sale, the chairman now owns 71,319 shares of the company’s stock, valued at $1,494,846.24. This trade represents a 6.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey H. Kripitz sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $22.77, for a total transaction of $227,700.00. Following the completion of the transaction, the director now owns 73,013 shares of the company’s stock, valued at approximately $1,662,506.01. This represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.33% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Parke Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 21st.

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.