Empowered Funds LLC Has $4.82 Million Position in Parke Bancorp, Inc. $PKBK

Key Points

• Empowered Funds LLC increased its Parke Bancorp stake by 46.6% in the first quarter, bringing its holdings to 169,683 shares valued at approximately $4.82 million. Institutional investors and hedge funds collectively own 49.69% of the company.
• Parke Bancorp reported quarterly earnings of $1.03 per share on $23.89 million in revenue, with a 29.99% net margin and 14.11% return on equity. The bank also raised its quarterly dividend to $0.20, equivalent to an annualized yield of about 2.3%.
• CEO Vito S. Pantilione purchased 1,300 shares at $33.68 each, while PKBK traded near its 52-week high at $34.15. The stock has a consensus “Buy” rating from the available analyst coverage.

Empowered Funds LLC increased its stake in Parke Bancorp, Inc. (NASDAQ:PKBK - Free Report) by 46.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,683 shares of the bank's stock after purchasing an additional 53,955 shares during the period. Empowered Funds LLC owned 1.45% of Parke Bancorp worth $4,819,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Marex Group plc bought a new position in Parke Bancorp in the 4th quarter valued at $11,889,000. Fourthstone LLC increased its stake in shares of Parke Bancorp by 52.9% in the 4th quarter. Fourthstone LLC now owns 620,899 shares of the bank's stock valued at $15,547,000 after buying an additional 214,945 shares during the period. Militia Capital Management LLC bought a new stake in shares of Parke Bancorp during the first quarter worth $3,408,000. Arrowstreet Capital Limited Partnership raised its position in shares of Parke Bancorp by 83.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank's stock worth $7,471,000 after acquiring an additional 119,274 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Parke Bancorp by 101.9% during the first quarter. Renaissance Technologies LLC now owns 198,947 shares of the bank's stock worth $5,650,000 after acquiring an additional 100,400 shares during the last quarter. Institutional investors and hedge funds own 49.69% of the company's stock.

Insider Buying and Selling at Parke Bancorp

In related news, CEO Vito S. Pantilione purchased 1,300 shares of Parke Bancorp stock in a transaction dated Wednesday, July 29th. The shares were acquired at an average cost of $33.68 per share, for a total transaction of $43,784.00. Following the transaction, the chief executive officer directly owned 237,829 shares of the company's stock, valued at approximately $8,010,080.72. This trade represents a 0.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 12.97% of the stock is currently owned by company insiders.

Parke Bancorp Stock Performance

PKBK opened at $34.15 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $400.58 million, a price-to-earnings ratio of 8.89 and a beta of 0.47. The firm has a 50 day simple moving average of $32.40 and a 200 day simple moving average of $29.89. Parke Bancorp, Inc. has a fifty-two week low of $19.71 and a fifty-two week high of $34.50.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.03 earnings per share for the quarter. Parke Bancorp had a net margin of 29.99% and a return on equity of 14.11%. The business 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. Stockholders of record on Friday, July 3rd were paid a $0.20 dividend. This is an increase from Parke Bancorp's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. Parke Bancorp's dividend payout ratio (DPR) is currently 20.83%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Parke Bancorp in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy".

Parke Bancorp 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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