Greenwood Capital Associates LLC Has $460,000 Stock Holdings in Park National Co. (NYSE:PRK)

Greenwood Capital Associates LLC trimmed its holdings in Park National Co. (NYSE:PRK) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,740 shares of the company’s stock after selling 75 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Park National were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRK. BNP Paribas Financial Markets increased its position in Park National by 74.6% in the 1st quarter. BNP Paribas Financial Markets now owns 7,164 shares of the company’s stock valued at $973,000 after buying an additional 3,062 shares in the last quarter. Quest Partners LLC increased its position in Park National by 40,100.0% in the 2nd quarter. Quest Partners LLC now owns 4,020 shares of the company’s stock valued at $572,000 after buying an additional 4,010 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in Park National in the 2nd quarter valued at about $499,000. Arbor Investment Advisors LLC bought a new stake in Park National in the 3rd quarter valued at about $687,000. Finally, The Manufacturers Life Insurance Company increased its position in Park National by 5.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,414 shares of the company’s stock valued at $1,198,000 after buying an additional 402 shares in the last quarter. 62.65% of the stock is owned by institutional investors and hedge funds.

Park National Stock Performance

Shares of PRK opened at $175.82 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.92. The stock has a 50 day moving average price of $170.09 and a two-hundred day moving average price of $156.22. The firm has a market capitalization of $2.84 billion, a P/E ratio of 20.81 and a beta of 0.70. Park National Co. has a 52 week low of $102.21 and a 52 week high of $190.84.

Park National Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Friday, November 15th. Park National’s dividend payout ratio is currently 50.18%.

Analyst Ratings Changes

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

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.