56,420 Shares in Parke Bancorp, Inc. $PKBK Bought by Sei Investments Co.

Key Points

• Sei Investments Co. bought 56,420 shares of Parke Bancorp in the first quarter, valued at approximately $1.6 million and representing about 0.48% of the company. Institutional investors collectively own 49.69% of the stock.
• Parke Bancorp reported quarterly earnings of $1.03 per share on revenue of $23.89 million, with a 13.88% return on equity and a 29.99% net margin.
• The company increased its quarterly dividend to $0.20 per share, or $0.80 annualized, producing a 2.3% yield. Its stock traded near its 12-month high, and analyst coverage reflected a consensus “Buy” rating.

Sei Investments Co. bought a new position in shares of Parke Bancorp, Inc. (NASDAQ:PKBK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 56,420 shares of the bank's stock, valued at approximately $1,602,000. Sei Investments Co. owned about 0.48% of Parke Bancorp at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Militia Capital Management LLC bought a new position in shares of Parke Bancorp in the first quarter worth about $3,408,000. Dimensional Fund Advisors LP boosted its stake in Parke Bancorp by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 599,209 shares of the bank's stock valued at $17,018,000 after purchasing an additional 25,168 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Parke Bancorp in the 1st quarter valued at approximately $321,000. Ritholtz Wealth Management grew its holdings in Parke Bancorp by 8.9% in the 1st quarter. Ritholtz Wealth Management now owns 12,586 shares of the bank's stock valued at $357,000 after buying an additional 1,026 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Parke Bancorp by 12.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,214 shares of the bank's stock worth $242,000 after buying an additional 1,253 shares during the period. 49.69% of the stock is currently owned by institutional investors.

Parke Bancorp Stock Performance

NASDAQ PKBK opened at $34.26 on Tuesday. Parke Bancorp, Inc. has a twelve month low of $19.71 and a twelve month high of $34.78. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.51. The stock has a market cap of $402.90 million, a P/E ratio of 8.92 and a beta of 0.47. The company's 50-day simple moving average is $32.77 and its 200 day simple moving average is $30.27.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.03 earnings per share for the quarter. Parke Bancorp had a return on equity of 13.88% and a net margin of 29.99%.The company had revenue of $23.89 million for the quarter.

Parke Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.80 annualized dividend and a yield of 2.3%. This is a positive change from Parke Bancorp's previous quarterly dividend of $0.18. Parke Bancorp's payout ratio is presently 20.83%.

Insider Buying and Selling

In related news, CEO Vito S. Pantilione purchased 1,300 shares of the stock in a transaction on Wednesday, July 29th. The shares were purchased at an average cost of $33.68 per share, for a total transaction of $43,784.00. Following the completion of the transaction, the chief executive officer directly owned 237,829 shares of the company's stock, valued at approximately $8,010,080.72. The trade was a 0.55% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PKBK shares. Wall Street Zen raised Parke Bancorp from a "hold" rating to a "buy" rating in a research report on Saturday. Weiss Ratings reiterated a "buy (b)" rating on shares of Parke Bancorp in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Parke Bancorp Company Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.

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