Mutual of America Capital Management LLC Sells 176 Shares of Park National Co. (NYSE:PRK)

Mutual of America Capital Management LLC decreased its holdings in Park National Co. (NYSE:PRK) by 7.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,187 shares of the company’s stock after selling 176 shares during the period. Mutual of America Capital Management LLC’s holdings in Park National were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PRK. CANADA LIFE ASSURANCE Co boosted its stake in Park National by 6.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,975 shares of the company’s stock worth $1,756,000 after purchasing an additional 747 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Park National by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,468 shares of the company’s stock worth $2,102,000 after acquiring an additional 521 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in Park National during the second quarter valued at $121,000. Louisiana State Employees Retirement System increased its holdings in Park National by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,200 shares of the company’s stock valued at $1,025,000 after acquiring an additional 100 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Park National by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 153,579 shares of the company’s stock valued at $21,860,000 after purchasing an additional 1,288 shares during the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Analyst Upgrades and Downgrades

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

Park National Trading Down 1.5 %

PRK stock opened at $192.47 on Thursday. The firm has a market cap of $3.11 billion, a PE ratio of 22.78 and a beta of 0.70. The firm has a fifty day moving average price of $177.89 and a 200 day moving average price of $162.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. Park National Co. has a fifty-two week low of $109.65 and a fifty-two week high of $207.99.

Park National Cuts Dividend

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

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.