PNC Financial Services Group Inc. Has $2.70 Million Stake in Parke Bancorp, Inc. (NASDAQ:PKBK)

PNC Financial Services Group Inc. lessened its position in Parke Bancorp, Inc. (NASDAQ:PKBK) by 17.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,608 shares of the bank’s stock after selling 27,072 shares during the period. PNC Financial Services Group Inc. owned 1.11% of Parke Bancorp worth $2,699,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in Parke Bancorp by 56.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock worth $72,000 after buying an additional 1,235 shares during the period. Jane Street Group LLC increased its position in shares of Parke Bancorp by 6.7% during the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock worth $293,000 after buying an additional 880 shares during the period. JPMorgan Chase & Co. lifted its holdings in Parke Bancorp by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock valued at $336,000 after buying an additional 1,842 shares during the period. Barclays PLC lifted its holdings in Parke Bancorp by 306.7% in the third quarter. Barclays PLC now owns 13,575 shares of the bank’s stock valued at $284,000 after buying an additional 10,237 shares during the period. Finally, Geode Capital Management LLC boosted its position in Parke Bancorp by 0.6% during the third quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock valued at $4,845,000 after acquiring an additional 1,447 shares during the last quarter. 49.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jeffrey H. Kripitz sold 6,101 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $20.12, for a total transaction of $122,752.12. Following the completion of the sale, the director now owns 54,353 shares in the company, valued at $1,093,582.36. The trade was a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 7,160 shares of company stock worth $143,947. Corporate insiders own 15.33% of the company’s stock.

Parke Bancorp Stock Performance

Shares of PKBK stock opened at $18.52 on Friday. The firm has a 50 day moving average of $19.63 and a 200-day moving average of $20.85. The company has a market cap of $220.11 million, a price-to-earnings ratio of 8.16 and a beta of 0.73. 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 posted its quarterly earnings results on Friday, January 24th. The bank reported $0.61 EPS for the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.

Parke Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Friday, January 3rd. Parke Bancorp’s dividend payout ratio (DPR) is currently 31.72%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Parke Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, January 27th.

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.