Park National Co. (NYSE:PRK) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its stake in Park National Co. (NYSE:PRKFree 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 (NYSE:PRKGet Free Report) last posted its earnings results on Monday, October 23rd. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.40. The firm had revenue of $121.98 million during the quarter, compared to analysts’ expectations of $116.32 million. Park National had a return on equity of 12.33% and a net margin of 24.22%. Equities research analysts anticipate that Park National Co. will post 8.21 earnings per share for the current fiscal year.

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.

View Our Latest Stock Report on Park National

Park National Company Profile

(Free Report)

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

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