Park National Co. $PRK Shares Sold by Northern Trust Corp

Northern Trust Corp decreased its stake in shares of Park National Co. (NYSE:PRK) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,671 shares of the company’s stock after selling 2,137 shares during the period. Northern Trust Corp owned approximately 1.12% of Park National worth $27,354,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Park National by 45,219.3% in the 1st quarter. GAMMA Investing LLC now owns 67,979 shares of the company’s stock worth $10,292,000 after acquiring an additional 67,829 shares during the period. Nuveen LLC acquired a new stake in shares of Park National in the 1st quarter worth approximately $5,972,000. Colonial Trust Co SC acquired a new stake in shares of Park National in the 4th quarter worth approximately $2,018,000. Public Sector Pension Investment Board lifted its stake in shares of Park National by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 46,104 shares of the company’s stock worth $6,980,000 after acquiring an additional 9,900 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of Park National by 149.0% in the 1st quarter. J.W. Cole Advisors Inc. now owns 15,986 shares of the company’s stock worth $2,420,000 after acquiring an additional 9,566 shares during the period. 62.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PRK shares. Raymond James Financial started coverage on shares of Park National in a research note on Monday, July 21st. They issued a “market perform” rating for the company. Wall Street Zen downgraded shares of Park National from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $177.75.

Park National Price Performance

Shares of NYSE PRK opened at $171.77 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Park National Co. has a twelve month low of $137.97 and a twelve month high of $207.99. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 18.45 and a beta of 0.76. The firm has a 50-day moving average of $168.79 and a two-hundred day moving average of $161.30.

Park National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 15th. Park National’s dividend payout ratio (DPR) is presently 41.59%.

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.