Parke Bancorp, Inc. (NASDAQ:PKBK) Stake Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 5.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,324 shares of the bank’s stock after acquiring an additional 1,574 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Parke Bancorp were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PKBK. BNP Paribas Financial Markets raised its stake in Parke Bancorp by 56.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock valued at $72,000 after acquiring an additional 1,235 shares in the last quarter. Barclays PLC increased its holdings in shares of Parke Bancorp by 306.7% during the third quarter. Barclays PLC now owns 13,575 shares of the bank’s stock valued at $284,000 after purchasing an additional 10,237 shares during the period. Jane Street Group LLC raised its stake in shares of Parke Bancorp by 6.7% during the third quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock valued at $293,000 after purchasing an additional 880 shares in the last quarter. Rhumbline Advisers lifted its holdings in Parke Bancorp by 5.2% in the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock worth $318,000 after purchasing an additional 767 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Parke Bancorp by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock valued at $336,000 after buying an additional 1,842 shares in the last quarter. 49.69% of the stock is owned by institutional investors.

Parke Bancorp Stock Performance

PKBK opened at $18.84 on Tuesday. The business has a 50 day moving average price of $19.42 and a two-hundred day moving average price of $20.71. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $223.12 million, a price-to-earnings ratio of 8.30 and a beta of 0.73. Parke Bancorp, Inc. has a 1-year low of $15.24 and a 1-year high of $24.29.

Parke Bancorp (NASDAQ:PKBK) last announced its 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Friday, April 4th. Parke Bancorp’s dividend payout ratio is presently 31.72%.

Insider Buying and Selling

In other news, Director Jeffrey H. Kripitz sold 6,101 shares of the company’s stock in a transaction 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 sale, the director now directly owns 54,353 shares of the company’s stock, valued at $1,093,582.36. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 7,160 shares of company stock worth $143,947. Corporate insiders own 15.33% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Parke Bancorp from a “buy” rating to a “hold” rating in a research report on Friday.

About Parke Bancorp

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.