Park National Co. (NYSE:PRK) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in Park National Co. (NYSE:PRK) by 55.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,214 shares of the company’s stock after selling 15,119 shares during the quarter. JPMorgan Chase & Co.’s holdings in Park National were worth $2,052,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new position in shares of Park National during the 3rd quarter worth $227,000. PDS Planning Inc acquired a new position in shares of Park National during the 3rd quarter worth $228,000. Algert Global LLC acquired a new position in shares of Park National during the 2nd quarter worth $231,000. CWA Asset Management Group LLC acquired a new position in shares of Park National during the 3rd quarter worth $263,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Park National in the 3rd quarter valued at about $280,000. 62.65% of the stock is owned by institutional investors and hedge funds.

Park National Price Performance

Shares of NYSE PRK opened at $170.35 on Wednesday. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 20.16 and a beta of 0.74. Park National Co. has a 52 week low of $123.08 and a 52 week high of $207.99. The company’s 50-day moving average price is $181.97 and its 200 day moving average price is $173.66. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Park National Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.00 dividend on an annualized basis and a yield of 1.17%. Park National’s dividend payout ratio (DPR) is 50.18%.

Park National Company 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.