Pacific Ridge Capital Partners LLC Sells 15,804 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK)

Pacific Ridge Capital Partners LLC decreased its stake in Parke Bancorp, Inc. (NASDAQ:PKBK - Free Report) by 4.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 312,612 shares of the bank's stock after selling 15,804 shares during the quarter. Parke Bancorp comprises 1.5% of Pacific Ridge Capital Partners LLC's portfolio, making the stock its 24th biggest holding. Pacific Ridge Capital Partners LLC owned about 2.64% of Parke Bancorp worth $5,890,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Wells Fargo & Company MN lifted its position 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 during the last quarter. Barclays PLC raised its stake in shares of Parke Bancorp by 16.3% in the fourth 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 stake in shares of Parke Bancorp in the 4th quarter worth about $364,000. Millennium Management LLC purchased a new position in shares of Parke Bancorp during the 4th quarter worth about $413,000. Finally, Empirical Finance LLC bought a new position in Parke Bancorp during the 1st quarter valued at about $421,000. Institutional investors own 49.69% of the company's stock.

Analyst Upgrades and Downgrades

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

Parke Bancorp Trading Down 1.6%

Shares of NASDAQ PKBK opened at $20.31 on Friday. Parke Bancorp, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $24.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $240.47 million, a price-to-earnings ratio of 7.90 and a beta of 0.64. The business's 50 day moving average price is $20.41 and its 200-day moving average price is $19.60.

Parke Bancorp (NASDAQ:PKBK - Get Free Report) last released its earnings results on Wednesday, July 16th. The bank reported $0.69 earnings per share for the quarter. The business had revenue of $18.69 million for the quarter. Parke Bancorp had a return on equity of 10.31% and a net margin of 22.44%.

Parke Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, July 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 3.5%. Parke Bancorp's dividend payout ratio (DPR) is presently 28.02%.

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.

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