16,524 Shares in Parke Bancorp, Inc. (PKBK) Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp bought a new position in shares of Parke Bancorp, Inc. (NASDAQ:PKBK) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,524 shares of the bank’s stock, valued at approximately $370,000. Bank of New York Mellon Corp owned 0.22% of Parke Bancorp at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PKBK. State of New Jersey Common Pension Fund D increased its holdings in shares of Parke Bancorp by 10.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 125,665 shares of the bank’s stock worth $2,815,000 after purchasing an additional 11,424 shares during the period. First Manhattan Co. increased its holdings in shares of Parke Bancorp by 52.0% during the second quarter. First Manhattan Co. now owns 29,876 shares of the bank’s stock worth $669,000 after purchasing an additional 10,216 shares during the period. Schwab Charles Investment Management Inc. bought a new position in shares of Parke Bancorp during the second quarter worth approximately $211,000. Eagle Global Advisors LLC increased its holdings in shares of Parke Bancorp by 10.0% during the second quarter. Eagle Global Advisors LLC now owns 27,563 shares of the bank’s stock worth $617,000 after purchasing an additional 2,505 shares during the period. Finally, Wedbush Securities Inc. increased its holdings in shares of Parke Bancorp by 10.0% during the second quarter. Wedbush Securities Inc. now owns 27,280 shares of the bank’s stock worth $611,000 after purchasing an additional 2,480 shares during the period. 24.35% of the stock is currently owned by institutional investors.

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In related news, Director Jeffrey H. Kripitz sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $21.98, for a total transaction of $153,860.00. Following the sale, the director now directly owns 201,949 shares in the company, valued at approximately $4,438,839.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward Infantolino sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $22.01, for a total transaction of $220,100.00. Following the sale, the director now owns 33,865 shares in the company, valued at $745,368.65. The disclosure for this sale can be found here. Insiders have sold a total of 20,932 shares of company stock worth $449,382 over the last 90 days. 26.05% of the stock is currently owned by corporate insiders.

Parke Bancorp (NASDAQ:PKBK) last announced its quarterly earnings results on Monday, October 23rd. The bank reported $0.42 EPS for the quarter. The company had revenue of $10.71 million for the quarter. Parke Bancorp had a net margin of 30.47% and a return on equity of 13.39%.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 13th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, October 12th. Parke Bancorp’s payout ratio is currently 32.41%.

Parke Bancorp Profile

Parke Bancorp, Inc is a bank holding company of Parke Bank (the Bank). The Bank is a full commercial service bank, with focus on providing personal and business financial services to individuals and small to mid-sized businesses in Gloucester, Atlantic and Cape May Counties in New Jersey and the Philadelphia area in Pennsylvania.

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Institutional Ownership by Quarter for Parke Bancorp (NASDAQ:PKBK)

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