PNC Financial Services Group Inc. Has $2.70 Million Holdings in Parke Bancorp, Inc. (NASDAQ:PKBK)

PNC Financial Services Group Inc. reduced its stake in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 17.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 131,608 shares of the bank’s stock after selling 27,072 shares during the period. PNC Financial Services Group Inc.’s holdings in Parke Bancorp were worth $2,699,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in Parke Bancorp by 56.3% during the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock worth $72,000 after buying an additional 1,235 shares in the last quarter. Barclays PLC raised its holdings in shares of Parke Bancorp by 306.7% in the third quarter. Barclays PLC now owns 13,575 shares of the bank’s stock valued at $284,000 after purchasing an additional 10,237 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Parke Bancorp by 6.7% during the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock valued at $293,000 after purchasing an additional 880 shares in the last quarter. Rhumbline Advisers boosted its holdings in Parke Bancorp by 5.2% during the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock worth $318,000 after purchasing an additional 767 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Parke Bancorp by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock worth $336,000 after purchasing an additional 1,842 shares in the last quarter. 49.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Parke Bancorp

In related news, Director Jeffrey H. Kripitz sold 6,101 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $20.12, for a total value of $122,752.12. Following the transaction, the director now owns 54,353 shares in the company, valued at approximately $1,093,582.36. This represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 7,160 shares of company stock worth $143,947 in the last quarter. Insiders own 15.33% of the company’s stock.

Parke Bancorp Stock Performance

Shares of Parke Bancorp stock opened at $18.52 on Friday. The business’s fifty day simple moving average is $19.63 and its 200 day simple moving average is $20.85. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. Parke Bancorp, Inc. has a 12 month low of $15.24 and a 12 month high of $24.29. The firm has a market capitalization of $220.11 million, a P/E ratio of 8.16 and a beta of 0.73.

Parke Bancorp (NASDAQ:PKBK) last released its earnings results on Friday, January 24th. The bank reported $0.61 EPS for the quarter. Parke Bancorp had a return on equity of 9.41% and a net margin of 21.25%.

Parke Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Friday, January 3rd. Parke Bancorp’s dividend payout ratio is currently 31.72%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Parke Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, January 27th.

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.