Park National Corp OH Sells 2,077 Shares of Park National Co. (NYSE:PRK)

Park National Corp OH trimmed its stake in Park National Co. (NYSE:PRK) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,191,604 shares of the company’s stock after selling 2,077 shares during the period. Park National comprises approximately 6.3% of Park National Corp OH’s investment portfolio, making the stock its biggest position. Park National Corp OH owned approximately 7.38% of Park National worth $169,613,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in Park National by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,468 shares of the company’s stock valued at $2,102,000 after purchasing an additional 521 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Park National by 6.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 12,975 shares of the company’s stock worth $1,756,000 after buying an additional 747 shares during the period. Spreng Capital Management Inc. raised its stake in Park National by 11.6% during the first quarter. Spreng Capital Management Inc. now owns 2,767 shares of the company’s stock worth $376,000 after buying an additional 287 shares during the last quarter. Berkshire Money Management Inc. bought a new position in Park National during the first quarter worth $439,000. Finally, ProShare Advisors LLC lifted its holdings in Park National by 7.4% in the first quarter. ProShare Advisors LLC now owns 2,890 shares of the company’s stock valued at $393,000 after buying an additional 198 shares during the period. 62.65% of the stock is owned by institutional investors.

Park National Stock Down 0.5 %

NYSE:PRK traded down $0.77 during trading hours on Monday, reaching $158.23. The company had a trading volume of 48,721 shares, compared to its average volume of 51,239. Park National Co. has a twelve month low of $91.78 and a twelve month high of $190.84. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 19.76 and a beta of 0.71. The business’s 50-day simple moving average is $151.62 and its two-hundred day simple moving average is $139.06.

Park National (NYSE:PRK) last released its quarterly earnings data on Monday, July 22nd. The company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $120.52 million.

Park National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a dividend of $1.06 per share. The ex-dividend date is Friday, August 16th. This represents a $4.24 annualized dividend and a dividend yield of 2.68%. Park National’s dividend payout ratio is 53.67%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PRK shares. StockNews.com lowered Park National from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $130.00 target price (up from $125.00) on shares of Park National in a report on Wednesday, April 24th.

Insider Transactions at Park National

In other Park National news, Director Mark R. Ramser sold 546 shares of the firm’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 transaction, the director now directly owns 379 shares of the company’s stock, valued at $68,470.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Park National news, Director Mark R. Ramser sold 546 shares of Park National stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $180.66, for a total transaction of $98,640.36. Following the completion of the transaction, the director now owns 379 shares in the company, valued at approximately $68,470.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark R. Ramser sold 454 shares of the 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 completion of the sale, the director now directly owns 925 shares of the company’s stock, valued at $173,030.50. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

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.