Basswood Capital Management L.L.C. Sells 2,235 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK)

Basswood Capital Management L.L.C. lessened its stake in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 182,694 shares of the bank’s stock after selling 2,235 shares during the period. Basswood Capital Management L.L.C. owned approximately 1.54% of Parke Bancorp worth $3,818,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Parke Bancorp by 1.1% in the first quarter. Vanguard Group Inc. now owns 514,393 shares of the bank’s stock valued at $8,860,000 after acquiring an additional 5,698 shares during the period. Dimensional Fund Advisors LP raised its position in Parke Bancorp by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 477,549 shares of the bank’s stock worth $8,309,000 after purchasing an additional 22,374 shares during the period. Fulton Bank N.A. raised its position in Parke Bancorp by 52.1% in the 2nd quarter. Fulton Bank N.A. now owns 73,905 shares of the bank’s stock worth $1,286,000 after purchasing an additional 25,314 shares during the period. Bank of New York Mellon Corp lifted its stake in Parke Bancorp by 7.6% in the second quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank’s stock worth $999,000 after purchasing an additional 4,076 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Parke Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 45,466 shares of the bank’s stock valued at $950,000 after buying an additional 2,278 shares during the period. 49.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded Parke Bancorp from a “hold” rating to a “buy” rating in a report on Monday, October 21st.

Parke Bancorp Stock Up 0.2 %

NASDAQ:PKBK opened at $23.61 on Monday. The company has a market cap of $280.60 million, a price-to-earnings ratio of 10.13 and a beta of 0.69. Parke Bancorp, Inc. has a twelve month low of $15.24 and a twelve month high of $24.29. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. The stock has a fifty day simple moving average of $21.72 and a 200-day simple moving average of $19.32.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.62 EPS for the quarter. The company had revenue of $15.62 million for the quarter. Parke Bancorp had a net margin of 22.32% and a return on equity of 9.75%.

Parke Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, October 4th. Parke Bancorp’s dividend payout ratio is presently 30.90%.

Insider Activity at Parke Bancorp

In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $22.77, for a total transaction of $227,700.00. Following the transaction, the director now owns 73,013 shares of the company’s stock, valued at approximately $1,662,506.01. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Daniel J. Dalton sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $20.96, for a total transaction of $104,800.00. Following the completion of the sale, the chairman now owns 71,319 shares of the company’s stock, valued at approximately $1,494,846.24. This represents a 6.55 % decrease in their position. The disclosure for this sale can be found here. 15.33% of the stock is owned by company insiders.

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.