Citadel Advisors LLC Invests $617,000 in Parke Bancorp, Inc. (NASDAQ:PKBK)

Citadel Advisors LLC acquired a new stake in Parke Bancorp, Inc. (NASDAQ:PKBK - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 30,084 shares of the bank's stock, valued at approximately $617,000. Citadel Advisors LLC owned 0.25% of Parke Bancorp at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of Parke Bancorp by 15.6% in the 4th quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank's stock valued at $204,000 after buying an additional 1,343 shares in the last quarter. Rhumbline Advisers increased its position in shares of Parke Bancorp by 5.2% in the 4th quarter. Rhumbline Advisers now owns 15,495 shares of the bank's stock valued at $318,000 after buying an additional 767 shares in the last quarter. Barclays PLC increased its position in shares of Parke Bancorp by 16.3% in the 4th quarter. Barclays PLC now owns 15,794 shares of the bank's stock valued at $324,000 after buying an additional 2,219 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Parke Bancorp in the 4th quarter valued at $364,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Parke Bancorp during the 4th quarter worth about $426,000. 49.69% of the stock is currently owned by institutional investors.

Parke Bancorp Stock Performance

NASDAQ:PKBK traded up $0.04 during mid-day trading on Tuesday, hitting $19.21. The stock had a trading volume of 8,886 shares, compared to its average volume of 23,520. Parke Bancorp, Inc. has a twelve month low of $15.24 and a twelve month high of $24.29. The stock has a market cap of $227.50 million, a price-to-earnings ratio of 8.46 and a beta of 0.57. The company's 50 day simple moving average is $18.89 and its 200 day simple moving average is $19.92. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27.

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

Parke Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were given a $0.18 dividend. The ex-dividend date of this dividend 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 29.88%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Parke Bancorp from a "buy" rating to a "hold" rating in a report on Friday.

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.