Empirical Finance LLC Acquires 48,008 Shares of Parke Bancorp, Inc. $PKBK

Empirical Finance LLC boosted its holdings in Parke Bancorp, Inc. (NASDAQ:PKBK) by 86.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 103,454 shares of the bank’s stock after buying an additional 48,008 shares during the quarter. Empirical Finance LLC’s holdings in Parke Bancorp were worth $2,938,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PKBK. Renaissance Technologies LLC boosted its holdings in shares of Parke Bancorp by 101.9% during the 1st quarter. Renaissance Technologies LLC now owns 198,947 shares of the bank’s stock valued at $5,650,000 after acquiring an additional 100,400 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Parke Bancorp by 83.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock valued at $7,471,000 after purchasing an additional 119,274 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Parke Bancorp during the first quarter valued at approximately $1,602,000. Militia Capital Management LLC bought a new position in Parke Bancorp during the first quarter valued at approximately $3,408,000. Finally, Dimensional Fund Advisors LP lifted its position in Parke Bancorp by 4.4% during the first 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 during the period. Institutional investors own 49.69% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parke Bancorp in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Parke Bancorp Price Performance

Shares of NASDAQ:PKBK opened at $33.23 on Friday. The firm’s 50 day moving average price is $32.09 and its 200-day moving average price is $29.55. Parke Bancorp, Inc. has a twelve month low of $19.71 and a twelve month high of $34.47. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $389.79 million, a PE ratio of 8.65 and a beta of 0.48.

Parke Bancorp (NASDAQ:PKBK) last announced its earnings results on Wednesday, July 22nd. The bank reported $1.03 earnings per share (EPS) for the quarter. The company had revenue of $23.89 million during the quarter. Parke Bancorp had a net margin of 29.99% and a return on equity of 14.11%.

Parke Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.80 annualized dividend and a dividend yield of 2.4%. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.18. Parke Bancorp’s dividend payout ratio is 22.86%.

Insider Buying and Selling at Parke Bancorp

In other Parke Bancorp news, CEO Vito S. Pantilione acquired 1,300 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average price of $30.37 per share, with a total value of $39,481.00. Following the transaction, the chief executive officer directly owned 237,429 shares in the company, valued at approximately $7,210,718.73. The trade was a 0.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.97% of the stock is owned by corporate insiders.

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.