Texas Permanent School Fund Corp cut its stake in Park National Co. (NYSE:PRK – Free Report) by 2.3% in the second quarter, Holdings Channel reports. The fund owned 12,678 shares of the company’s stock after selling 303 shares during the period. Texas Permanent School Fund Corp’s holdings in Park National were worth $1,297,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in Park National in the 1st quarter valued at about $51,000. Royal Bank of Canada boosted its stake in shares of Park National by 19.8% in the 3rd quarter. Royal Bank of Canada now owns 582 shares of the company’s stock valued at $73,000 after buying an additional 96 shares during the period. Fiduciary Alliance LLC purchased a new position in shares of Park National in the 2nd quarter valued at about $102,000. SG Americas Securities LLC boosted its stake in shares of Park National by 25.2% in the 1st quarter. SG Americas Securities LLC now owns 1,171 shares of the company’s stock valued at $139,000 after buying an additional 236 shares during the period. Finally, Gryphon Financial Partners LLC purchased a new position in shares of Park National in the 1st quarter valued at about $142,000. 52.27% of the stock is owned by institutional investors and hedge funds.
Park National Price Performance
PRK stock opened at $114.25 on Friday. The business has a 50 day moving average price of $99.87 and a 200 day moving average price of $103.90. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 13.75 and a beta of 0.71. Park National Co. has a fifty-two week low of $90.28 and a fifty-two week 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.
Park National Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Thursday, November 16th. Park National’s dividend payout ratio is currently 50.54%.
Analysts Set New Price Targets
Separately, StockNews.com started coverage on Park National in a research note on Thursday, October 5th. They issued a “sell” rating for the company.
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 for individual customers.
- Five stocks we like better than Park National
- Consumer Staples Stocks, Explained
- S&P 500’s Whirlwind: Big gains, warning whispers & tactical moves
- Are Stock Buybacks Good for the Average Investor?
- MarketBeat Week in Review – 11/13 – 11/17
- Investing In Preferred Stock vs. Common Stock
- 3 large caps with red hot RSIs with upside
Receive News & Ratings for Park National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park National and related companies with MarketBeat.com's FREE daily email newsletter.