Allspring Global Investments Holdings LLC trimmed its holdings in shares of Park National Co. (NYSE:PRK – Free Report) by 68.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 535 shares of the company’s stock after selling 1,148 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Park National were worth $55,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the business. Captrust Financial Advisors increased its stake in Park National by 2.3% during the 2nd quarter. Captrust Financial Advisors now owns 3,759 shares of the company’s stock worth $456,000 after purchasing an additional 85 shares in the last quarter. FMR LLC boosted its position in Park National by 1.5% during the 2nd quarter. FMR LLC now owns 5,973 shares of the company’s stock worth $724,000 after acquiring an additional 89 shares during the last quarter. Royal Bank of Canada boosted its position in Park National by 19.8% during the 3rd quarter. Royal Bank of Canada now owns 582 shares of the company’s stock worth $73,000 after acquiring an additional 96 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Park National by 0.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,617 shares of the company’s stock worth $1,772,000 after acquiring an additional 98 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Park National by 2.7% during the 1st quarter. Arizona State Retirement System now owns 4,712 shares of the company’s stock worth $559,000 after acquiring an additional 126 shares during the last quarter. 52.27% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com assumed coverage on Park National in a research report on Thursday, October 5th. They set a “sell” rating for the company.
Park National Trading Up 1.4 %
NYSE:PRK opened at $114.24 on Friday. Park National Co. has a twelve month low of $90.28 and a twelve month high of $151.59. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average price of $99.56 and a two-hundred day moving average price of $104.02. The company has a market cap of $1.84 billion, a P/E ratio of 13.75 and a beta of 0.71.
Park National (NYSE:PRK – Get Free Report) last released its quarterly earnings data on Monday, October 23rd. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $1.88 by $0.40. The company had revenue of $121.98 million during the quarter, compared to the consensus estimate of $116.32 million. Park National had a return on equity of 12.33% and a net margin of 24.22%. As a group, analysts expect that Park National Co. will post 8.21 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 8th. Stockholders of record on Friday, November 17th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Thursday, November 16th. Park National’s payout ratio is presently 50.54%.
About Park National
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.
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