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

Empirical Finance LLC increased its holdings in Parke Bancorp, Inc. (NASDAQ:PKBK) by 86.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,454 shares of the bank’s stock after acquiring an additional 48,008 shares during the quarter. Empirical Finance LLC owned about 0.88% of Parke Bancorp worth $2,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fourthstone LLC raised its holdings in 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. Dimensional Fund Advisors LP increased its position in shares of 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 buying an additional 25,168 shares during the period. Marex Group plc purchased a new position in shares of Parke Bancorp during the fourth quarter valued at about $11,889,000. Ategra Capital Management LLC raised its stake in Parke Bancorp by 1.8% in the third quarter. Ategra Capital Management LLC now owns 440,327 shares of the bank’s stock worth $9,489,000 after buying an additional 7,627 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Parke Bancorp by 83.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 263,046 shares of the bank’s stock worth $7,471,000 after buying an additional 119,274 shares in the last quarter. Institutional investors own 49.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated 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, the company has a consensus rating of “Buy”.

Insiders Place Their Bets

In other news, CEO Vito S. Pantilione bought 1,300 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was acquired at an average cost of $30.37 per share, with a total value of $39,481.00. Following the completion of the acquisition, the chief executive officer owned 237,429 shares of the company’s stock, valued at approximately $7,210,718.73. This represents a 0.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.97% of the company’s stock.

Parke Bancorp Price Performance

PKBK stock opened at $33.23 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a 50 day moving average price of $32.09 and a 200-day moving average price of $29.55. Parke Bancorp, Inc. has a 52-week low of $19.71 and a 52-week high of $34.47. The firm has a market capitalization of $389.79 million, a price-to-earnings ratio of 8.65 and a beta of 0.48.

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

Parke Bancorp Increases Dividend

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

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.