Nisa Investment Advisors LLC Purchases 80 Shares of Park National Co. (NYSE:PRK)

Nisa Investment Advisors LLC lifted its position in shares of Park National Co. (NYSE:PRK) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,709 shares of the company’s stock after purchasing an additional 80 shares during the period. Nisa Investment Advisors LLC’s holdings in Park National were worth $287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PRK. nVerses Capital LLC acquired a new stake in Park National during the 2nd quarter worth approximately $85,000. MFA Wealth Advisors LLC acquired a new position in shares of Park National during the second quarter worth $121,000. Contravisory Investment Management Inc. bought a new stake in shares of Park National in the third quarter worth $227,000. Algert Global LLC acquired a new stake in Park National in the second quarter valued at $231,000. Finally, SG Americas Securities LLC raised its position in Park National by 56.1% during the 1st quarter. SG Americas Securities LLC now owns 1,789 shares of the company’s stock worth $243,000 after purchasing an additional 643 shares during the last quarter. Institutional investors and hedge funds own 62.65% of the company’s stock.

Park National Stock Up 17.6 %

Shares of NYSE PRK opened at $206.49 on Thursday. The company’s 50 day moving average price is $170.75 and its 200-day moving average price is $156.57. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.92. Park National Co. has a 52-week low of $102.21 and a 52-week high of $207.51. The company has a market capitalization of $3.33 billion, a P/E ratio of 24.44 and a beta of 0.70.

Park National Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $0.50 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.00 annualized dividend and a yield of 0.97%. Park National’s payout ratio is 50.18%.

Analysts Set New Price Targets

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

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.