Park National Co. $PRK Shares Sold by Comerica Bank

Comerica Bank reduced its holdings in Park National Co. (NYSE:PRK) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,858 shares of the company’s stock after selling 121 shares during the quarter. Comerica Bank’s holdings in Park National were worth $736,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Park National by 199.3% in the first quarter. GAMMA Investing LLC now owns 449 shares of the company’s stock valued at $68,000 after purchasing an additional 299 shares during the last quarter. AlphaQuest LLC acquired a new stake in Park National during the first quarter worth about $93,000. KBC Group NV increased its stake in Park National by 11.6% during the first quarter. KBC Group NV now owns 878 shares of the company’s stock worth $133,000 after acquiring an additional 91 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Park National during the first quarter worth about $208,000. Finally, CoreCap Advisors LLC increased its stake in Park National by 801.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,244 shares of the company’s stock worth $213,000 after acquiring an additional 1,106 shares during the last quarter. 62.65% of the stock is currently owned by institutional investors and hedge funds.

Park National Price Performance

PRK stock opened at $172.09 on Friday. The firm has a market cap of $2.77 billion, a P/E ratio of 18.48 and a beta of 0.77. Park National Co. has a 1 year low of $137.97 and a 1 year high of $207.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. The stock has a 50-day simple moving average of $169.41 and a 200-day simple moving average of $161.42.

Park National Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.