New York State Teachers Retirement System Increases Stock Holdings in Park National Co. (NYSE:PRK)

New York State Teachers Retirement System increased its stake in shares of Park National Co. (NYSE:PRK) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,277 shares of the company’s stock after purchasing an additional 100 shares during the quarter. New York State Teachers Retirement System’s holdings in Park National were worth $550,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. nVerses Capital LLC bought a new position in Park National during the 2nd quarter valued at about $85,000. MFA Wealth Advisors LLC purchased a new position in shares of Park National during the second quarter valued at approximately $121,000. Contravisory Investment Management Inc. bought a new position in shares of Park National during the third quarter valued at approximately $227,000. Algert Global LLC purchased a new stake in shares of Park National in the second quarter worth approximately $231,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Park National by 4.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,709 shares of the company’s stock worth $287,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Analyst Ratings Changes

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

Park National Price Performance

Park National stock opened at $191.58 on Monday. Park National Co. has a 1 year low of $102.21 and a 1 year high of $207.51. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 21.82 and a beta of 0.70. The firm has a 50-day moving average of $171.40 and a two-hundred day moving average of $157.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.94.

Park National Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.50 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.00 annualized dividend and a dividend yield of 1.04%. Park National’s payout ratio is presently 50.18%.

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.