Renaissance Technologies LLC Purchases 100,400 Shares of Parke Bancorp, Inc. $PKBK

Renaissance Technologies LLC boosted its position in Parke Bancorp, Inc. (NASDAQ:PKBK) by 101.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 198,947 shares of the bank’s stock after acquiring an additional 100,400 shares during the period. Renaissance Technologies LLC owned 1.70% of Parke Bancorp worth $5,650,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Marex Group plc bought a new stake in shares of Parke Bancorp during the fourth quarter valued at approximately $11,889,000. Fourthstone LLC lifted its holdings in shares of Parke Bancorp by 52.9% in the 4th quarter. Fourthstone LLC now owns 620,899 shares of the bank’s stock worth $15,547,000 after purchasing an additional 214,945 shares in the last quarter. Militia Capital Management LLC bought a new position in shares of Parke Bancorp in the 1st quarter worth $3,408,000. Arrowstreet Capital Limited Partnership grew its position in Parke Bancorp by 83.0% in the 1st 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 period. Finally, Goldman Sachs Group Inc. grew its position in Parke Bancorp by 228.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock valued at $1,991,000 after purchasing an additional 73,505 shares during the period. Institutional investors and hedge funds own 49.69% of the company’s stock.

Parke Bancorp Stock Down 0.1%

Shares of NASDAQ:PKBK opened at $34.20 on Thursday. The company has a market capitalization of $401.17 million, a PE ratio of 8.91 and a beta of 0.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 1.25. The business has a fifty day moving average price of $32.56 and a two-hundred day moving average price of $30.08. Parke Bancorp, Inc. has a 1 year low of $19.71 and a 1 year high of $34.78.

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

Parke Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were given a $0.20 dividend. This is a positive change from Parke Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, July 2nd. Parke Bancorp’s payout ratio is presently 20.83%.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CEO Vito S. Pantilione bought 1,300 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were purchased at an average cost of $33.68 per share, for a total transaction of $43,784.00. Following the completion of the purchase, the chief executive officer directly owned 237,829 shares in the company, valued at $8,010,080.72. The trade was a 0.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 12.97% of the company’s stock.

Parke Bancorp 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.