BlackRock Inc. grew its stake in Parke Bancorp, Inc. (NASDAQ:PKBK) by 33.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 456,709 shares of the bank’s stock after buying an additional 114,105 shares during the period. BlackRock Inc.’s holdings in Parke Bancorp were worth $10,938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Northern Trust Corp raised its holdings in shares of Parke Bancorp by 5.2% during the second quarter. Northern Trust Corp now owns 81,785 shares of the bank’s stock worth $1,959,000 after purchasing an additional 4,015 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Parke Bancorp by 12.0% during the second quarter. Bank of New York Mellon Corp now owns 52,421 shares of the bank’s stock worth $1,256,000 after purchasing an additional 5,625 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in shares of Parke Bancorp by 33.4% during the second quarter. Pacific Ridge Capital Partners LLC now owns 215,950 shares of the bank’s stock worth $5,172,000 after purchasing an additional 54,127 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Parke Bancorp by 29.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 20,955 shares of the bank’s stock worth $502,000 after purchasing an additional 4,776 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Parke Bancorp by 61.7% during the second quarter. Acadian Asset Management LLC now owns 2,434 shares of the bank’s stock worth $58,000 after purchasing an additional 929 shares during the last quarter. 37.96% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently issued reports on PKBK. BidaskClub raised shares of Parke Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 13th. ValuEngine cut shares of Parke Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.

PKBK opened at $22.80 on Monday. Parke Bancorp, Inc. has a fifty-two week low of $16.71 and a fifty-two week high of $24.45. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.17 and a current ratio of 1.17. The company has a fifty day moving average of $22.35 and a two-hundred day moving average of $22.39. The stock has a market capitalization of $246.87 million, a price-to-earnings ratio of 9.10 and a beta of 0.66.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.68 earnings per share for the quarter. Parke Bancorp had a net margin of 36.52% and a return on equity of 17.54%. The company had revenue of $15.06 million during the quarter.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a $0.16 dividend. The ex-dividend date is Thursday, October 10th. This represents a $0.64 annualized dividend and a dividend yield of 2.81%.

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, money market, and individual retirement accounts, as well as certificates of deposit.

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Institutional Ownership by Quarter for Parke Bancorp (NASDAQ:PKBK)

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