Park National Co. (NYSE:PRK) Stock Position Increased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its position in shares of Park National Co. (NYSE:PRK) by 39.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,062 shares of the company’s stock after buying an additional 1,144 shares during the quarter. BNP Paribas Financial Markets’ holdings in Park National were worth $682,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PRK. MFA Wealth Advisors LLC acquired a new stake in shares of Park National during the 2nd quarter valued at $121,000. Louisiana State Employees Retirement System lifted its holdings in shares of Park National by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 7,200 shares of the company’s stock valued at $1,025,000 after purchasing an additional 100 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Park National by 0.8% in 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 period. Commonwealth Equity Services LLC purchased a new position in Park National in the 2nd quarter worth about $499,000. Finally, nVerses Capital LLC acquired a new stake in Park National during the 2nd quarter worth about $85,000. 62.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Park National Stock Performance

PRK opened at $186.69 on Friday. The stock has a 50-day moving average of $182.80 and a 200-day moving average of $166.33. 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 52-week low of $123.08 and a 52-week high of $207.99. The company has a market cap of $3.02 billion, a PE ratio of 22.09 and a beta of 0.72.

Park National Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.00 annualized dividend and a dividend yield of 1.07%. Park National’s payout ratio is 50.18%.

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.