PNC Financial Services Group Inc. Has $1.36 Million Holdings in Park National Co. (NYSE:PRK)

PNC Financial Services Group Inc. lifted its stake in Park National Co. (NYSE:PRK) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,082 shares of the company’s stock after acquiring an additional 116 shares during the period. PNC Financial Services Group Inc. owned approximately 0.05% of Park National worth $1,358,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in Park National in the 2nd quarter worth $85,000. MFA Wealth Advisors LLC bought a new stake in shares of Park National in the second quarter valued at about $121,000. Contravisory Investment Management Inc. acquired a new stake in Park National during the third quarter worth about $227,000. PDS Planning Inc bought a new position in Park National during the third quarter valued at about $228,000. Finally, CWA Asset Management Group LLC acquired a new position in Park National in the 3rd quarter valued at approximately $263,000. Institutional investors own 62.65% of the company’s stock.

Park National Price Performance

Shares of Park National stock opened at $192.47 on Thursday. The firm has a market cap of $3.11 billion, a P/E ratio of 22.78 and a beta of 0.70. The firm’s 50-day simple moving average is $177.89 and its 200-day simple moving average is $162.63. Park National Co. has a twelve month low of $109.65 and a twelve month 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 0.95.

Park National Cuts Dividend

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

Analyst Ratings Changes

Separately, StockNews.com lowered 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.