BlackRock Takes 5.0% Stake in PARKE BANCORP
Ticker: PKBK · Form: SC 13G · Filed: Jan 29, 2024 · CIK: 1315399
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, insider-buy, investment-firm, bank-stock
TL;DR
**BlackRock just disclosed a 5.0% stake in PARKE BANCORP, signaling institutional interest.**
AI Summary
BlackRock Inc., a major investment management firm, reported on January 29, 2024, that it holds 5.0% of the Common Stock of PARKE BANCORP, INC. (NASDAQ: PKBK) as of December 31, 2023. This means BlackRock now beneficially owns 360,670 shares of the bank's stock. This matters to investors because BlackRock's significant stake indicates institutional confidence in PARKE BANCORP, potentially signaling stability or future growth prospects for the regional bank.
Why It Matters
A large institutional investor like BlackRock taking a 5.0% stake in PARKE BANCORP can be seen as a vote of confidence, potentially attracting other investors and influencing the stock price positively.
Risk Assessment
Risk Level: low — This filing indicates a significant institutional investment, which generally reduces perceived risk due to increased oversight and potential stability.
Analyst Insight
Smart investors should view BlackRock's 5.0% stake as a positive signal, indicating institutional confidence in PARKE BANCORP. This could warrant further research into the company's fundamentals and potential for growth, as such a large investment often precedes increased market attention.
Key Numbers
- 5.0% — Percentage of Class Beneficially Owned (Indicates BlackRock's significant ownership stake in PARKE BANCORP, INC.)
- 360,670 — Number of Shares Beneficially Owned (The total number of Common Stock shares of PARKE BANCORP, INC. held by BlackRock Inc.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- PARKE BANCORP, INC. (company) — the subject company whose stock is being reported
- 360,670 (dollar_amount) — number of shares beneficially owned by BlackRock Inc.
- 5.0% (dollar_amount) — percentage of class beneficially owned by BlackRock Inc.
- December 31, 2023 (person) — date of event requiring the filing
- January 29, 2024 (person) — date the SC 13G filing was made
Forward-Looking Statements
- BlackRock's significant stake could lead to increased institutional interest in PARKE BANCORP, potentially driving up its stock price. (PARKE BANCORP, INC.) — medium confidence, target: 6-12 months
FAQ
Who filed this SC 13G statement?
This SC 13G statement was filed by BlackRock Inc., a company with its business address at 50 Hudson Yards, New York, NY 10001.
What is the subject company of this filing?
The subject company is PARKE BANCORP, INC., a state commercial bank with its business address at 601 Delsea Drive, Washington Township, NJ 08080.
What percentage of PARKE BANCORP, INC.'s Common Stock does BlackRock Inc. now beneficially own?
As of December 31, 2023, BlackRock Inc. beneficially owns 5.0% of the Common Stock of PARKE BANCORP, INC.
How many shares of PARKE BANCORP, INC. Common Stock does BlackRock Inc. beneficially own?
BlackRock Inc. beneficially owns 360,670 shares of PARKE BANCORP, INC. Common Stock.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 29, 2024 by December 31, 2023 regarding PARKE BANCORP, INC. (PKBK).