Jane Street Group LLC Boosts Stake in Parke Bancorp, Inc. (NASDAQ:PKBK)

Jane Street Group LLC boosted its stake in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) by 6.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,037 shares of the bank’s stock after buying an additional 880 shares during the period. Jane Street Group LLC’s holdings in Parke Bancorp were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in Parke Bancorp by 56.3% during the third quarter. BNP Paribas Financial Markets now owns 3,427 shares of the bank’s stock worth $72,000 after buying an additional 1,235 shares during the period. Private Advisor Group LLC purchased a new stake in Parke Bancorp during the third quarter worth $211,000. Bank of New York Mellon Corp lifted its holdings in Parke Bancorp by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 57,428 shares of the bank’s stock worth $999,000 after buying an additional 4,076 shares during the period. International Assets Investment Management LLC lifted its holdings in Parke Bancorp by 1,990.2% during the third quarter. International Assets Investment Management LLC now owns 2,550 shares of the bank’s stock worth $53,000 after buying an additional 2,428 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Parke Bancorp during the second quarter worth $186,000. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Parke Bancorp Stock Performance

Shares of PKBK stock opened at $18.89 on Friday. The business’s fifty day simple moving average is $22.02 and its 200-day simple moving average is $20.34. The company has a market cap of $224.51 million, a PE ratio of 8.11 and a beta of 0.73. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. Parke Bancorp, Inc. has a 12-month low of $15.24 and a 12-month high of $24.29.

Parke Bancorp (NASDAQ:PKBK) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.62 earnings per share (EPS) for the quarter. The business had revenue of $15.62 million for the quarter. Parke Bancorp had a return on equity of 9.75% and a net margin of 22.32%.

Parke Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Friday, January 3rd. Parke Bancorp’s payout ratio is presently 30.90%.

Insider Transactions at Parke Bancorp

In related news, Director Jeffrey H. Kripitz sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $22.77, for a total value of $227,700.00. Following the transaction, the director now directly owns 73,013 shares of the company’s stock, valued at $1,662,506.01. This represents a 12.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Daniel J. Dalton sold 5,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $20.96, for a total value of $104,800.00. Following the completion of the transaction, the chairman now directly owns 71,319 shares in the company, valued at approximately $1,494,846.24. The trade was a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Parke Bancorp from a “hold” rating to a “buy” rating in a report on Monday, October 21st.

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.