Bank of New York Mellon Corp Sells 5,126 Shares of Park National Co. (NYSE:PRK)

Bank of New York Mellon Corp decreased its position in shares of Park National Co. (NYSE:PRK) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,112 shares of the company’s stock after selling 5,126 shares during the period. Bank of New York Mellon Corp owned 0.76% of Park National worth $18,488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRK. Raymond James Financial Inc. bought a new stake in Park National during the 4th quarter worth approximately $3,673,000. Swiss National Bank raised its position in shares of Park National by 0.6% during the fourth quarter. Swiss National Bank now owns 31,800 shares of the company’s stock valued at $5,451,000 after buying an additional 200 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Park National during the fourth quarter valued at approximately $240,000. Cibc World Markets Corp purchased a new position in shares of Park National in the fourth quarter valued at $231,000. Finally, Signaturefd LLC grew its holdings in shares of Park National by 9.7% in the fourth quarter. Signaturefd LLC now owns 692 shares of the company’s stock valued at $119,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 62.65% of the company’s stock.

Park National Stock Down 0.9%

NYSE PRK opened at $170.72 on Friday. 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 company has a fifty day moving average of $166.62 and a two-hundred day moving average of $162.04. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 18.34 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.

Park National Announces Dividend

The company 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 2.51%. The ex-dividend date of this dividend was Friday, May 16th. Park National’s payout ratio is 43.94%.

Analyst Upgrades and Downgrades

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

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.