North Star Asset Management Inc. Acquires Shares of 83,579 Parke Bancorp, Inc. $PKBK

North Star Asset Management Inc. bought a new position in Parke Bancorp, Inc. (NASDAQ:PKBK) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 83,579 shares of the bank’s stock, valued at approximately $542,000. North Star Asset Management Inc. owned about 0.71% of Parke Bancorp at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC bought a new position in Parke Bancorp in the 2nd quarter worth approximately $5,278,000. Bank of America Corp DE bought a new position in Parke Bancorp in the 2nd quarter valued at $595,000. Hsbc Holdings PLC acquired a new stake in shares of Parke Bancorp in the 2nd quarter valued at $331,000. Ategra Capital Management LLC acquired a new stake in shares of Parke Bancorp in the 2nd quarter valued at $11,402,000. Finally, Legal & General Group Plc bought a new stake in shares of Parke Bancorp during the second quarter worth $31,000. 49.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

PKBK has been the topic of several recent research reports. Wall Street Zen upgraded Parke Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Parke Bancorp in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Parke Bancorp has a consensus rating of “Buy”.

Parke Bancorp Stock Performance

Shares of NASDAQ:PKBK opened at $33.99 on Friday. The firm’s 50 day simple moving average is $33.56 and its 200 day simple moving average is $30.91. Parke Bancorp, Inc. has a fifty-two week low of $19.71 and a fifty-two week high of $35.70. The company has a market capitalization of $399.72 million, a price-to-earnings ratio of 8.85 and a beta of 0.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.25 and a quick ratio of 1.25.

Parke Bancorp (NASDAQ:PKBK) last issued its earnings results on Wednesday, July 22nd. The bank reported $1.03 EPS for the quarter. The firm had revenue of $23.89 million during the quarter. Parke Bancorp had a net margin of 29.99% and a return on equity of 13.88%.

Parke Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.4%. This is an increase from Parke Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, July 2nd. Parke Bancorp’s dividend payout ratio is currently 20.83%.

Insider Transactions at Parke Bancorp

In other Parke Bancorp news, CFO Jonathan D. Hill sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.96, for a total transaction of $69,920.00. Following the sale, the chief financial officer directly owned 30 shares in the company, valued at approximately $1,048.80. This trade represents a 98.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vito S. Pantilione purchased 1,300 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was bought at an average cost of $33.68 per share, for a total transaction of $43,784.00. Following the purchase, the chief executive officer owned 237,829 shares of the company’s stock, valued at approximately $8,010,080.72. This represents a 0.55% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 12.97% of the company’s stock.

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.