Texas Permanent School Fund Grows Position in Park National Co. (NYSEAMERICAN:PRK)

Texas Permanent School Fund raised its position in Park National Co. (NYSEAMERICAN:PRKGet Rating) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,453 shares of the financial services provider’s stock after acquiring an additional 219 shares during the quarter. Texas Permanent School Fund owned approximately 0.06% of Park National worth $1,267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRK. Commonwealth Equity Services LLC increased its holdings in shares of Park National by 1.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 5,368 shares of the financial services provider’s stock valued at $650,000 after acquiring an additional 88 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in Park National by 5.4% during the first quarter. Mutual of America Capital Management LLC now owns 2,080 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 107 shares in the last quarter. Cetera Advisor Networks LLC lifted its position in shares of Park National by 9.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,791 shares of the financial services provider’s stock worth $235,000 after buying an additional 150 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Park National by 6.1% in the 1st quarter. Teacher Retirement System of Texas now owns 3,170 shares of the financial services provider’s stock valued at $416,000 after buying an additional 181 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of Park National by 4.3% in the 2nd quarter. New York State Teachers Retirement System now owns 4,877 shares of the financial services provider’s stock valued at $591,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 51.75% of the company’s stock.

Park National Stock Down 0.3 %

PRK opened at $144.83 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 0.84. Park National Co. has a 52 week low of $112.78 and a 52 week high of $149.53. The stock’s 50 day moving average price is $129.59. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 16.33 and a beta of 0.73.

Park National (NYSEAMERICAN:PRKGet Rating) last announced its earnings results on Monday, October 24th. The financial services provider reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.56). The business had revenue of $137.52 million during the quarter, compared to analyst estimates of $117.78 million. Park National had a net margin of 30.91% and a return on equity of 12.97%. Equities analysts expect that Park National Co. will post 9 EPS for the current fiscal year.

Park National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Friday, November 18th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, November 17th. This represents a $4.16 dividend on an annualized basis and a yield of 2.87%. Park National’s payout ratio is 46.90%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their price target on shares of Park National from $127.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, August 25th.

About Park National

(Get Rating)

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 for individual customers.

See Also

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Institutional Ownership by Quarter for Park National (NYSEAMERICAN:PRK)

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