Renaissance Technologies LLC Grows Stock Position in Parke Bancorp, Inc. $PKBK

Renaissance Technologies LLC raised its position in Parke Bancorp, Inc. (NASDAQ:PKBK) by 101.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,947 shares of the bank’s stock after buying an additional 100,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Parke Bancorp were worth $5,650,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PKBK. Russell Investments Group Ltd. grew its stake in shares of Parke Bancorp by 66.2% during the 3rd 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 increased its holdings in Parke Bancorp by 44.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock worth $66,000 after acquiring an additional 999 shares during the last quarter. Militia Capital Partners LP raised its stake in Parke Bancorp by 0.8% in the 2nd quarter. Militia Capital Partners LP now owns 118,961 shares of the bank’s stock valued at $2,423,000 after acquiring an additional 1,000 shares during the period. Goldman Sachs Group Inc. raised its stake in Parke Bancorp by 2.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 40,690 shares of the bank’s stock valued at $1,019,000 after acquiring an additional 1,022 shares during the period. Finally, Ritholtz Wealth Management lifted its holdings in Parke Bancorp by 8.9% during the first quarter. Ritholtz Wealth Management now owns 12,586 shares of the bank’s stock valued at $357,000 after purchasing an additional 1,026 shares during the last quarter. Hedge funds and other institutional investors own 49.69% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vito S. Pantilione purchased 1,300 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was acquired at an average price of $33.68 per share, with a total value of $43,784.00. Following the purchase, the chief executive officer directly owned 237,829 shares in the company, valued at approximately $8,010,080.72. This represents a 0.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 12.97% of the stock is currently owned by corporate insiders.

Parke Bancorp Stock Performance

NASDAQ:PKBK opened at $34.20 on Thursday. The stock has a market cap of $401.17 million, a P/E ratio of 8.91 and a beta of 0.47. 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 business’s 50-day moving average price is $32.56 and its two-hundred day moving average price is $30.08. Parke Bancorp, Inc. has a twelve month low of $19.71 and a twelve month high of $34.78.

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

Parke Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, July 2nd. This is a boost from Parke Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 2.3%. Parke Bancorp’s dividend payout ratio (DPR) is presently 20.83%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Parke Bancorp in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy”.

Parke Bancorp 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.