Parke Bancorp, Inc. (NASDAQ:PKBK) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. reduced its position in Parke Bancorp, Inc. (NASDAQ:PKBK - Free Report) by 50.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,272 shares of the bank's stock after selling 21,669 shares during the quarter. Fulton Bank N.A. owned 0.18% of Parke Bancorp worth $401,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PKBK. Wells Fargo & Company MN raised its stake in Parke Bancorp by 15.6% in the fourth quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank's stock worth $204,000 after buying an additional 1,343 shares in the last quarter. Rhumbline Advisers increased its holdings 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 acquiring an additional 767 shares during the period. Barclays PLC increased its holdings 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 acquiring an additional 2,219 shares during the period. Marshall Wace LLP bought a new position in shares of Parke Bancorp in the 4th quarter worth $364,000. Finally, Millennium Management LLC bought a new position in shares of Parke Bancorp in the 4th quarter worth $413,000. Hedge funds and other institutional investors own 49.69% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Parke Bancorp from a "buy" rating to a "hold" rating in a research report on Friday, May 30th.

Parke Bancorp Stock Up 1.3%

NASDAQ:PKBK traded up $0.25 during midday trading on Friday, reaching $19.37. 17,144 shares of the stock traded hands, compared to its average volume of 23,417. Parke Bancorp, Inc. has a 12-month low of $15.24 and a 12-month high of $24.29. The business has a 50-day moving average of $18.90 and a two-hundred day moving average of $19.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market capitalization of $229.40 million, a PE ratio of 8.53 and a beta of 0.58.

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

Parke Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Friday, April 4th. Parke Bancorp's payout ratio is currently 29.88%.

About Parke Bancorp

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.