227,766 Shares in Parke Bancorp, Inc. $PKBK Bought by Rhino Investment Partners Inc

Rhino Investment Partners Inc purchased a new position in Parke Bancorp, Inc. (NASDAQ:PKBK) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 227,766 shares of the bank’s stock, valued at approximately $6,469,000. Parke Bancorp makes up 1.8% of Rhino Investment Partners Inc’s holdings, making the stock its 25th largest holding. Rhino Investment Partners Inc owned 1.94% of Parke Bancorp as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of Parke Bancorp by 66.2% in the third quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock worth $46,000 after acquiring an additional 855 shares during the period. BNP Paribas Financial Markets grew its position in shares of Parke Bancorp by 44.4% during the second quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock worth $66,000 after purchasing an additional 999 shares in the last quarter. Militia Capital Partners LP raised its stake in Parke Bancorp by 0.8% during the 2nd quarter. Militia Capital Partners LP now owns 118,961 shares of the bank’s stock valued at $2,423,000 after purchasing an additional 1,000 shares during the period. Goldman Sachs Group Inc. raised its stake in Parke Bancorp by 2.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 40,690 shares of the bank’s stock valued at $1,019,000 after purchasing an additional 1,022 shares during the period. Finally, Ritholtz Wealth Management lifted its holdings in Parke Bancorp by 8.9% in the 1st quarter. Ritholtz Wealth Management now owns 12,586 shares of the bank’s stock worth $357,000 after purchasing an additional 1,026 shares in the last quarter. 49.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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, According to MarketBeat.com, Parke Bancorp currently has an average rating of “Buy”.

Parke Bancorp Stock Up 2.1%

Shares of PKBK stock opened at $34.13 on Wednesday. The stock has a market cap of $400.34 million, a P/E ratio of 8.89 and a beta of 0.48. Parke Bancorp, Inc. has a 52 week low of $19.71 and a 52 week high of $34.50. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $32.23 and its two-hundred day simple moving average is $29.70.

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

Parke Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. Parke Bancorp’s dividend payout ratio is currently 20.83%.

About Parke Bancorp

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.