Empirical Finance LLC Makes New $421,000 Investment in Parke Bancorp, Inc. (NASDAQ:PKBK)

Empirical Finance LLC bought a new position in Parke Bancorp, Inc. (NASDAQ:PKBK) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 22,371 shares of the bank’s stock, valued at approximately $421,000. Empirical Finance LLC owned 0.19% of Parke Bancorp at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in shares of Parke Bancorp by 15.6% in the fourth quarter. Wells Fargo & Company MN now owns 9,930 shares of the bank’s stock worth $204,000 after buying an additional 1,343 shares during the period. Barclays PLC boosted its holdings in shares of Parke Bancorp by 16.3% in the fourth quarter. Barclays PLC now owns 15,794 shares of the bank’s stock worth $324,000 after buying an additional 2,219 shares during the period. Marshall Wace LLP acquired a new position in shares of Parke Bancorp in the fourth quarter worth about $364,000. Millennium Management LLC acquired a new position in shares of Parke Bancorp in the fourth quarter worth about $413,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Parke Bancorp in the fourth quarter worth about $426,000. 49.69% of the stock is currently owned by institutional investors and hedge funds.

Parke Bancorp Price Performance

NASDAQ PKBK opened at $21.60 on Tuesday. The company has a 50 day simple moving average of $20.32 and a 200-day simple moving average of $19.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $255.74 million, a price-to-earnings ratio of 8.40 and a beta of 0.58. Parke Bancorp, Inc. has a 52-week low of $16.94 and a 52-week high of $24.29.

Parke Bancorp (NASDAQ:PKBK) last posted its quarterly earnings results on Wednesday, July 16th. The bank reported $0.69 earnings per share (EPS) for the quarter. The business had revenue of $18.69 million during the quarter. Parke Bancorp had a net margin of 22.44% and a return on equity of 10.31%.

Parke Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Thursday, July 3rd. Parke Bancorp’s dividend payout ratio (DPR) is 28.02%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Parke Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, June 7th.

Parke Bancorp Company 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.