Sei Investments Co. Makes New Investment in Parke Bancorp, Inc. $PKBK

Sei Investments Co. acquired a new position in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 56,420 shares of the bank’s stock, valued at approximately $1,602,000.

A number of other institutional investors also recently modified their holdings of PKBK. Fourthstone LLC boosted its holdings in shares of Parke Bancorp by 52.9% in the 4th quarter. Fourthstone LLC now owns 620,899 shares of the bank’s stock worth $15,547,000 after acquiring an additional 214,945 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Parke Bancorp by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 599,209 shares of the bank’s stock valued at $17,018,000 after purchasing an additional 25,168 shares in the last quarter. Marex Group plc bought a new position in Parke Bancorp in the 4th quarter valued at $11,889,000. Ategra Capital Management LLC raised its position in Parke Bancorp by 1.8% in the 3rd quarter. Ategra Capital Management LLC now owns 440,327 shares of the bank’s stock valued at $9,489,000 after purchasing an additional 7,627 shares during the last quarter. Finally, State Street Corp boosted its stake in Parke Bancorp by 2.2% in the fourth quarter. State Street Corp now owns 162,670 shares of the bank’s stock worth $4,073,000 after purchasing an additional 3,444 shares in the last quarter. Institutional investors own 49.69% of the company’s stock.

Insider Buying and Selling

In other news, CEO Vito S. Pantilione purchased 1,300 shares of Parke Bancorp stock in a transaction on Wednesday, July 29th. The stock was purchased at an average price of $33.68 per share, with a total value of $43,784.00. Following the transaction, the chief executive officer directly owned 237,829 shares in the company, valued at $8,010,080.72. The trade was a 0.55% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 12.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PKBK shares. Weiss Ratings restated a “buy (b)” rating on shares of Parke Bancorp in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Parke Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Parke Bancorp Price Performance

PKBK stock opened at $34.26 on Tuesday. The stock has a 50-day moving average price of $32.77 and a two-hundred day moving average price of $30.27. The stock has a market cap of $402.90 million, a PE ratio of 8.92 and a beta of 0.47. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.51. Parke Bancorp, Inc. has a 1 year low of $19.71 and a 1 year high of $34.78.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.03 EPS for the quarter. The company had revenue of $23.89 million for the quarter. Parke Bancorp had a return on equity of 13.88% and a net margin of 29.99%.

Parke Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, July 2nd. This is a positive change from Parke Bancorp’s previous quarterly dividend of $0.18. Parke Bancorp’s dividend payout ratio (DPR) is presently 20.83%.

About Parke Bancorp

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.