Park National Co. (NYSE:PRK) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its holdings in Park National Co. (NYSE:PRK) by 2.6% in the third quarter, Holdings Channel reports. The firm owned 4,281 shares of the company’s stock after selling 114 shares during the period. Amalgamated Bank’s holdings in Park National were worth $719,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new position in shares of Park National during the 2nd quarter valued at about $85,000. MFA Wealth Advisors LLC purchased a new position in shares of Park National during the 2nd quarter valued at about $121,000. Contravisory Investment Management Inc. purchased a new position in shares of Park National during the 3rd quarter valued at about $227,000. PDS Planning Inc purchased a new position in shares of Park National during the 3rd quarter valued at about $228,000. Finally, Algert Global LLC purchased a new position in shares of Park National in the 2nd quarter valued at about $231,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

Park National Stock Down 0.1 %

PRK stock opened at $192.20 on Friday. The firm has a market cap of $3.11 billion, a PE ratio of 22.74 and a beta of 0.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50 day moving average price is $173.39 and its 200-day moving average price is $158.88. Park National Co. has a one year low of $109.65 and a one year high of $207.51.

Park National Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, November 15th. Park National’s payout ratio is 50.18%.

Analyst Upgrades and Downgrades

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

Park National Profile

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.