Fulton Bank N.A. Sells 21,669 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK)

Fulton Bank N.A. trimmed its holdings in shares of Parke Bancorp, Inc. (NASDAQ:PKBK - Free Report) by 50.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,272 shares of the bank's stock after selling 21,669 shares during the period. Fulton Bank N.A. owned 0.18% of Parke Bancorp worth $401,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Citadel Advisors LLC acquired a new position in Parke Bancorp during the 4th quarter valued at about $617,000. Dimensional Fund Advisors LP increased its stake in Parke Bancorp by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 522,646 shares of the bank's stock valued at $10,720,000 after buying an additional 27,354 shares during the period. Rhumbline Advisers increased its stake in Parke Bancorp by 5.2% during 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 during the period. Empowered Funds LLC increased its stake in Parke Bancorp by 5.1% during the 4th quarter. Empowered Funds LLC now owns 47,799 shares of the bank's stock valued at $980,000 after buying an additional 2,333 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Parke Bancorp during the 4th quarter valued at about $426,000. 49.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Parke Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday.

Parke Bancorp Stock Up 1.3%

Shares of PKBK stock traded up $0.25 during trading on Friday, hitting $19.37. 17,144 shares of the company were exchanged, compared to its average volume of 23,358. 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 firm has a market capitalization of $229.40 million, a price-to-earnings ratio of 8.53 and a beta of 0.58. The business's 50-day simple moving average is $18.91 and its 200 day simple moving average is $19.82. Parke Bancorp, Inc. has a twelve month low of $15.24 and a twelve month high of $24.29.

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

Parke Bancorp Dividend Announcement

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

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.