Park National Co. (NYSE:PRK) Shares Purchased by Huntington National Bank

Huntington National Bank boosted its holdings in shares of Park National Co. (NYSE:PRK) by 13.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,309 shares of the company’s stock after buying an additional 269 shares during the period. Huntington National Bank’s holdings in Park National were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRK. nVerses Capital LLC acquired a new position in shares of Park National during the second quarter valued at about $85,000. MFA Wealth Advisors LLC acquired a new position in Park National during the 2nd quarter valued at approximately $121,000. Contravisory Investment Management Inc. purchased a new position in shares of Park National in the third quarter worth $227,000. PDS Planning Inc acquired a new stake in shares of Park National during the third quarter worth $228,000. Finally, Algert Global LLC purchased a new stake in shares of Park National during the second quarter valued at $231,000. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

Park National Trading Up 0.1 %

NYSE PRK opened at $192.55 on Friday. The company has a fifty day moving average of $173.94 and a 200 day moving average of $159.29. The company has a market capitalization of $3.11 billion, a PE ratio of 22.79 and a beta of 0.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. Park National Co. has a 1 year low of $109.65 and a 1 year high of $207.51.

Park National Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.50 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.04%. Park National’s payout ratio is 50.18%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Park National from a “hold” rating to a “sell” rating in a report on Friday, August 23rd.

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.