LSV Asset Management Cuts Stock Holdings in Parke Bancorp, Inc. (NASDAQ:PKBK)

LSV Asset Management lowered its position in Parke Bancorp, Inc. (NASDAQ:PKBK) by 32.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,315 shares of the bank’s stock after selling 9,317 shares during the period. LSV Asset Management owned about 0.16% of Parke Bancorp worth $396,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Parke Bancorp by 0.6% in the third quarter. Geode Capital Management LLC now owns 231,800 shares of the bank’s stock valued at $4,845,000 after buying an additional 1,447 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Parke Bancorp by 5.1% during the 4th quarter. Empowered Funds LLC now owns 47,799 shares of the bank’s stock worth $980,000 after purchasing an additional 2,333 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Parke Bancorp by 135.8% during the 4th quarter. JPMorgan Chase & Co. now owns 37,926 shares of the bank’s stock worth $778,000 after purchasing an additional 21,841 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Parke Bancorp by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,324 shares of the bank’s stock valued at $622,000 after purchasing an additional 1,574 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Parke Bancorp in the fourth quarter valued at about $426,000. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Parke Bancorp Stock Performance

NASDAQ PKBK opened at $17.45 on Wednesday. The business has a 50 day moving average price of $18.88 and a 200 day moving average price of $20.43. The company has a market capitalization of $206.66 million, a P/E ratio of 7.69 and a beta of 0.56. Parke Bancorp, Inc. has a 1-year low of $15.24 and a 1-year high of $24.29. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27.

Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings results on Friday, January 24th. The bank reported $0.61 earnings per share 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 firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Friday, April 4th. Parke Bancorp’s dividend payout ratio (DPR) is presently 31.72%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Parke Bancorp from a “buy” rating to a “hold” rating in a report on Friday, March 28th.

Insider Activity

In related news, Director Jeffrey H. Kripitz sold 6,101 shares of Parke Bancorp stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $20.12, for a total transaction of $122,752.12. Following the completion of the transaction, the director now directly owns 54,353 shares in the company, valued at $1,093,582.36. The trade was a 10.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 7,160 shares of company stock worth $143,947 over the last ninety days. 15.33% of the stock is currently owned by 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.