Millennium Management LLC Invests $413,000 in Parke Bancorp, Inc. (NASDAQ:PKBK)

Millennium Management LLC bought a new stake in shares of Parke Bancorp, Inc. (NASDAQ:PKBK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,133 shares of the bank's stock, valued at approximately $413,000. Millennium Management LLC owned approximately 0.17% of Parke Bancorp at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ategra Capital Management LLC raised its position in shares of Parke Bancorp by 52.1% during the fourth quarter. Ategra Capital Management LLC now owns 344,741 shares of the bank's stock valued at $7,071,000 after buying an additional 118,069 shares during the last quarter. Citadel Advisors LLC bought a new position in Parke Bancorp during the fourth quarter valued at about $617,000. Dimensional Fund Advisors LP raised its holdings in Parke Bancorp by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 522,646 shares of the bank's stock valued at $10,720,000 after acquiring an additional 27,354 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Parke Bancorp by 135.8% in the 4th quarter. JPMorgan Chase & Co. now owns 37,926 shares of the bank's stock worth $778,000 after acquiring an additional 21,841 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Parke Bancorp during the 4th quarter worth approximately $426,000. 49.69% of the stock is currently owned by institutional investors and hedge funds.

Parke Bancorp Stock Performance

Parke Bancorp stock traded up $0.26 on Tuesday, hitting $19.62. The company's stock had a trading volume of 23,230 shares, compared to its average volume of 23,328. Parke Bancorp, Inc. has a one year low of $15.24 and a one year high of $24.29. The firm has a market cap of $232.36 million, a P/E ratio of 8.64 and a beta of 0.58. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average price of $18.92 and a 200-day moving average price of $19.79.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter. The firm 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 business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were given a dividend of $0.18 per share. The ex-dividend date was Friday, April 4th. This represents a $0.72 annualized dividend and a dividend yield of 3.67%. Parke Bancorp's dividend payout ratio (DPR) is presently 29.88%.

Wall Street Analysts Forecast Growth

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

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.