83,579 Shares in Parke Bancorp, Inc. $PKBK Purchased by North Star Asset Management Inc.

North Star Asset Management Inc. purchased a new position in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) in the second quarter, HoldingsChannel reports. The fund purchased 83,579 shares of the bank’s stock, valued at approximately $542,000.

Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Parke Bancorp in the second quarter worth $26,035,000. Marex Group plc bought a new position in Parke Bancorp in the fourth quarter valued at $11,889,000. Ategra Capital Management LLC acquired a new stake in Parke Bancorp in the 2nd quarter valued at $11,402,000. Rhino Investment Partners Inc acquired a new stake in Parke Bancorp in the 1st quarter valued at $6,469,000. Finally, Fourthstone LLC grew its position in shares of Parke Bancorp by 52.9% in the 4th quarter. Fourthstone LLC now owns 620,899 shares of the bank’s stock valued at $15,547,000 after acquiring an additional 214,945 shares during the period. 49.69% of the stock is owned by institutional investors.

Parke Bancorp Stock Performance

Shares of PKBK stock opened at $33.99 on Friday. Parke Bancorp, Inc. has a 52 week low of $19.71 and a 52 week high of $35.70. The company has a market capitalization of $399.72 million, a price-to-earnings ratio of 8.85 and a beta of 0.47. The company has a 50-day simple moving average of $33.56 and a 200 day simple moving average of $30.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.25 and a current ratio of 1.25.

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

Parke Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Parke Bancorp’s previous quarterly dividend of $0.18. Parke Bancorp’s payout ratio is currently 20.83%.

Insiders Place Their Bets

In related news, CFO Jonathan D. Hill sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.96, for a total value of $69,920.00. Following the transaction, the chief financial officer directly owned 30 shares in the company, valued at approximately $1,048.80. This represents a 98.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vito S. Pantilione acquired 1,300 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was acquired at an average price of $33.68 per share, with a total value of $43,784.00. Following the purchase, the chief executive officer directly owned 237,829 shares in the company, valued at approximately $8,010,080.72. This represents a 0.55% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 12.97% of the company’s stock.

Wall Street Analyst Weigh In

PKBK has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parke Bancorp in a report on Wednesday, June 24th. Wall Street Zen raised Parke Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Parke Bancorp Company Profile

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.