Public Sector Pension Investment Board Has $5.19 Million Stock Position in Park National Co. (NYSE:PRK)

Public Sector Pension Investment Board lessened its position in Park National Co. (NYSE:PRK) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,866 shares of the company’s stock after selling 800 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.19% of Park National worth $5,185,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PRK. nVerses Capital LLC purchased a new stake in shares of Park National in the second quarter valued at $85,000. MFA Wealth Advisors LLC purchased a new stake in Park National in the 2nd quarter worth about $121,000. Contravisory Investment Management Inc. acquired a new stake in Park National during the 3rd quarter worth about $227,000. PDS Planning Inc purchased a new position in Park National during the 3rd quarter valued at about $228,000. Finally, Algert Global LLC acquired a new position in shares of Park National in the 2nd quarter valued at about $231,000. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Stock Performance

Shares of NYSE PRK opened at $190.36 on Monday. Park National Co. has a one year low of $110.46 and a one year high of $207.99. The business’s 50-day moving average price is $178.43 and its two-hundred day moving average price is $163.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $3.08 billion, a P/E ratio of 22.53 and a beta of 0.70.

Park National Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 yield of 1.05%. The ex-dividend date of this dividend is Friday, November 15th. Park National’s payout ratio is presently 50.18%.

Analyst Upgrades and Downgrades

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

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.