ProShare Advisors LLC Sells 682 Shares of Park National Co. (NYSE:PRK)

ProShare Advisors LLC cut its stake in shares of Park National Co. (NYSE:PRK) by 23.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,208 shares of the company’s stock after selling 682 shares during the period. ProShare Advisors LLC’s holdings in Park National were worth $314,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWA Asset Management Group LLC acquired a new stake in Park National in the fourth quarter worth $208,000. Rafferty Asset Management LLC lifted its holdings in Park National by 68.9% during the fourth quarter. Rafferty Asset Management LLC now owns 10,892 shares of the company’s stock worth $1,447,000 after acquiring an additional 4,443 shares in the last quarter. Vanguard Group Inc. grew its stake in 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 acquiring an additional 12,925 shares during the period. Investment Partners LTD. acquired a new position in Park National in the first quarter valued at about $378,000. Finally, Private Advisor Group LLC increased its holdings in shares of Park National by 22.7% in the first quarter. Private Advisor Group LLC now owns 2,510 shares of the company’s stock worth $341,000 after acquiring an additional 464 shares in the last quarter. Institutional investors own 62.65% of the company’s stock.

Insider Transactions at Park National

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

Wall Street Analysts Forecast Growth

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

Park National Trading Up 0.0 %

PRK opened at $160.02 on Friday. The stock has a market capitalization of $2.58 billion, a P/E ratio of 20.26 and a beta of 0.70. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. Park National Co. has a 12 month low of $92.30 and a 12 month high of $190.84. The firm’s fifty day simple moving average is $167.93 and its 200 day simple moving average is $149.17.

Park National (NYSE:PRK) last posted its quarterly earnings data 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 return on equity of 12.49% and a net margin of 22.67%. The company had revenue of $126.63 million during the quarter, compared to analysts’ expectations of $120.52 million.

Park National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were issued a $1.06 dividend. The ex-dividend date was Friday, August 16th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 2.65%. Park National’s dividend payout ratio (DPR) is presently 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.