Wells Fargo & Company MN Acquires 1,343 Shares of Parke Bancorp, Inc. (NASDAQ:PKBK)

Wells Fargo & Company MN grew its holdings in Parke Bancorp, Inc. (NASDAQ:PKBK) by 15.6% in the 4th quarter, Holdings Channel reports. The fund owned 9,930 shares of the bank’s stock after purchasing an additional 1,343 shares during the quarter. Wells Fargo & Company MN’s holdings in Parke Bancorp were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jane Street Group LLC raised its stake in Parke Bancorp by 6.7% during the 3rd quarter. Jane Street Group LLC now owns 14,037 shares of the bank’s stock valued at $293,000 after purchasing an additional 880 shares during the last quarter. Barclays PLC increased its holdings in shares of Parke Bancorp by 306.7% during the 3rd quarter. Barclays PLC now owns 13,575 shares of the bank’s stock worth $284,000 after purchasing an additional 10,237 shares during the period. JPMorgan Chase & Co. raised its position in shares of Parke Bancorp by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 16,085 shares of the bank’s stock valued at $336,000 after buying an additional 1,842 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Parke Bancorp by 5.1% in the fourth quarter. Empowered Funds LLC now owns 47,799 shares of the bank’s stock valued at $980,000 after buying an additional 2,333 shares during the period. Finally, Rhumbline Advisers grew its position in Parke Bancorp by 5.2% during the fourth quarter. Rhumbline Advisers now owns 15,495 shares of the bank’s stock worth $318,000 after buying an additional 767 shares in the last quarter. Institutional investors and hedge funds own 49.69% of the company’s stock.

Parke Bancorp Stock Up 2.7 %

Shares of PKBK stock opened at $19.66 on Friday. Parke Bancorp, Inc. has a one year low of $15.24 and a one year high of $24.29. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a fifty day moving average price of $18.53 and a 200 day moving average price of $20.20. The stock has a market cap of $232.83 million, a P/E ratio of 8.66 and a beta of 0.57.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.65 EPS for the quarter. The company had revenue of $17.43 million during the quarter. Parke Bancorp had a net margin of 21.25% and a return on equity of 9.41%.

Parke Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, April 4th. Parke Bancorp’s payout ratio is 29.88%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Parke Bancorp from a “hold” rating to a “buy” rating in a report on Monday, April 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.