Bank of New York Mellon Corp grew its position in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 11.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,852 shares of the bank’s stock after purchasing an additional 3,209 shares during the quarter. Bank of New York Mellon Corp’s holdings in Parke Bancorp were worth $729,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Cutler Capital Management LLC boosted its position in Parke Bancorp by 72.1% during the 2nd quarter. Cutler Capital Management LLC now owns 172,298 shares of the bank’s stock worth $4,075,000 after purchasing an additional 72,180 shares during the period. Wedbush Securities Inc. boosted its position in Parke Bancorp by 30.5% during the 2nd quarter. Wedbush Securities Inc. now owns 39,937 shares of the bank’s stock worth $945,000 after purchasing an additional 9,330 shares during the period. First Manhattan Co. boosted its position in Parke Bancorp by 27.4% during the 2nd quarter. First Manhattan Co. now owns 38,073 shares of the bank’s stock worth $900,000 after purchasing an additional 8,197 shares during the period. Commonwealth Equity Services LLC boosted its position in Parke Bancorp by 19.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 16,194 shares of the bank’s stock worth $383,000 after purchasing an additional 2,611 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its position in Parke Bancorp by 10.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 138,231 shares of the bank’s stock worth $3,269,000 after purchasing an additional 12,566 shares during the period. Hedge funds and other institutional investors own 32.46% of the company’s stock.
Shares of Parke Bancorp stock opened at $19.46 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.18 and a quick ratio of 1.18. Parke Bancorp, Inc. has a twelve month low of $17.39 and a twelve month high of $24.80. The firm has a market cap of $194.12 million, a P/E ratio of 10.89 and a beta of -0.03.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, October 12th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, October 11th. This represents a $0.56 dividend on an annualized basis and a yield of 2.88%.
In other Parke Bancorp news, Director Jeffrey H. Kripitz sold 5,000 shares of the company’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $23.85, for a total value of $119,250.00. Following the completion of the transaction, the director now directly owns 205,043 shares of the company’s stock, valued at approximately $4,890,275.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 23.53% of the company’s stock.
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, money market, and individual retirement accounts, as well as certificates of deposit.
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