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

Millennium Management LLC acquired a new position in shares of Parke Bancorp, Inc. (NASDAQ:PKBK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,133 shares of the bank's stock, valued at approximately $413,000. Millennium Management LLC owned 0.17% of Parke Bancorp as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in shares of Parke Bancorp by 5.1% during the 4th quarter. Empowered Funds LLC now owns 47,799 shares of the bank's stock worth $980,000 after acquiring an additional 2,333 shares during the period. Rhumbline Advisers boosted 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 purchasing an additional 767 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Parke Bancorp by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,324 shares of the bank's stock worth $622,000 after buying an additional 1,574 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Parke Bancorp by 135.8% during the 4th quarter. JPMorgan Chase & Co. now owns 37,926 shares of the bank's stock worth $778,000 after buying an additional 21,841 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Parke Bancorp in the fourth quarter valued at about $426,000. 49.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Parke Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th.

Parke Bancorp Trading Down 2.4%

Shares of PKBK stock traded down $0.47 during mid-day trading on Friday, reaching $19.20. 24,080 shares of the stock traded hands, compared to its average volume of 23,335. The company has a market cap of $227.39 million, a price-to-earnings ratio of 8.46 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 stock's fifty day simple moving average is $19.02 and its two-hundred day simple moving average is $19.76. Parke Bancorp, Inc. has a 1-year low of $15.24 and a 1-year high of $24.29.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last posted its earnings results 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 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. This represents a $0.72 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Friday, April 4th. Parke Bancorp's dividend payout ratio is currently 29.88%.

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.