Park National Corp OH Sells 31,506 Shares of Park National Co. (NYSE:PRK)

Park National Corp OH cut its holdings in shares of Park National Co. (NYSE:PRK) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,160,098 shares of the company’s stock after selling 31,506 shares during the period. Park National accounts for about 6.8% of Park National Corp OH’s holdings, making the stock its biggest position. Park National Corp OH owned approximately 7.18% of Park National worth $194,873,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PRK. Vanguard Group Inc. increased its holdings in shares of Park National by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock valued at $226,009,000 after purchasing an additional 12,925 shares during the period. Dimensional Fund Advisors LP raised its position in Park National by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 495,375 shares of the company’s stock worth $70,507,000 after buying an additional 21,221 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Park National by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 153,579 shares of the company’s stock valued at $21,860,000 after acquiring an additional 1,288 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Park National by 7.7% in the second quarter. Public Sector Pension Investment Board now owns 31,666 shares of the company’s stock valued at $4,507,000 after acquiring an additional 2,264 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Park National by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,468 shares of the company’s stock worth $2,102,000 after purchasing an additional 521 shares in the last quarter. Institutional investors and hedge funds own 62.65% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Park National from a “hold” rating to a “sell” rating in a report on Friday, August 23rd.

Insiders Place Their Bets

In other news, Director Mark R. Ramser sold 546 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $180.66, for a total value of $98,640.36. Following the completion of the transaction, the director now owns 379 shares in the company, valued at $68,470.14. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Mark R. Ramser sold 454 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $187.06, for a total value of $84,925.24. Following the sale, the director now owns 925 shares of the company’s stock, valued at approximately $173,030.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark R. Ramser sold 546 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $180.66, for a total value of $98,640.36. Following the completion of the sale, the director now owns 379 shares in the company, valued at $68,470.14. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

Park National Price Performance

Shares of NYSE PRK opened at $160.00 on Thursday. The company’s fifty day moving average is $168.49 and its two-hundred day moving average is $149.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $2.58 billion, a P/E ratio of 20.25 and a beta of 0.71. Park National Co. has a one year low of $91.78 and a one year high of $190.84.

Park National (NYSE:PRK) last issued its earnings results on Monday, July 22nd. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.39. Park National had a net margin of 22.67% and a return on equity of 12.49%. The company had revenue of $126.63 million for the quarter, compared to analyst estimates of $120.52 million.

Park National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were paid a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 2.65%. The ex-dividend date was Friday, August 16th. Park National’s payout ratio is currently 53.67%.

About Park National

Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in small and medium population areas. The company offers deposits for demand, savings, and time accounts; trust and wealth management services; cash management services; safe deposit operations; electronic funds transfers; Internet and mobile banking solutions with bill pay service; credit cards; and various additional banking-related services.