Nisa Investment Advisors LLC Has $246,000 Stock Holdings in Park National Co. (NYSE:PRK)

Nisa Investment Advisors LLC lessened its holdings in shares of Park National Co. (NYSE:PRK) by 19.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,624 shares of the company’s stock after selling 385 shares during the period. Nisa Investment Advisors LLC’s holdings in Park National were worth $246,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Park National by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 72,418 shares of the company’s stock valued at $10,964,000 after acquiring an additional 1,895 shares in the last quarter. GAMMA Investing LLC lifted its position in Park National by 199.3% during the 1st quarter. GAMMA Investing LLC now owns 449 shares of the company’s stock worth $68,000 after buying an additional 299 shares in the last quarter. KBC Group NV lifted its position in Park National by 11.6% during the 1st quarter. KBC Group NV now owns 878 shares of the company’s stock worth $133,000 after buying an additional 91 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Park National by 427.9% during the 4th quarter. JPMorgan Chase & Co. now owns 64,482 shares of the company’s stock worth $11,054,000 after purchasing an additional 52,268 shares during the last quarter. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Park National during the 4th quarter worth about $240,000. 62.65% of the stock is owned by institutional investors.

Park National Stock Up 0.8%

PRK opened at $172.27 on Friday. The company’s 50-day moving average price is $166.39 and its two-hundred day moving average price is $162.04. Park National Co. has a twelve month low of $137.97 and a twelve month 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 stock has a market cap of $2.79 billion, a price-to-earnings ratio of 18.50 and a beta of 0.82.

Park National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.28 annualized dividend and a yield of 2.48%. Park National’s payout ratio is currently 43.94%.

Analyst Upgrades and Downgrades

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

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.