Teacher Retirement System of Texas Sells 269 Shares of Park National Co. (NYSE:PRK)

Teacher Retirement System of Texas decreased its holdings in shares of Park National Co. (NYSE:PRK) by 5.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 4,384 shares of the company’s stock after selling 269 shares during the period. Teacher Retirement System of Texas’ holdings in Park National were worth $664,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Park National by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,701,587 shares of the company’s stock valued at $291,703,000 after purchasing an additional 6,432 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Park National by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 495,854 shares of the company’s stock valued at $85,006,000 after buying an additional 3,911 shares in the last quarter. Northern Trust Corp grew its position in shares of Park National by 4.3% in the 4th quarter. Northern Trust Corp now owns 182,808 shares of the company’s stock worth $31,339,000 after buying an additional 7,505 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Park National by 77.5% during the 4th quarter. First Trust Advisors LP now owns 160,715 shares of the company’s stock worth $27,551,000 after acquiring an additional 70,170 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Park National by 22.8% during the fourth quarter. Invesco Ltd. now owns 107,428 shares of the company’s stock valued at $18,416,000 after acquiring an additional 19,948 shares during the last quarter. Institutional investors own 62.65% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PRK. Keefe, Bruyette & Woods upped their price target on Park National from $167.00 to $170.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 30th. Wall Street Zen downgraded Park National from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st.

Park National Stock Down 3.8%

PRK stock opened at $169.36 on Wednesday. The stock has a market capitalization of $2.74 billion, a PE ratio of 18.19 and a beta of 0.82. Park National Co. has a 52 week low of $137.97 and a 52 week high of $207.99. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $166.13 and a 200 day moving average of $161.98.

Park National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Friday, May 16th. Park National’s payout ratio is 43.94%.

Park National 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.