PNC Financial Services Group Inc. Sells 82 Shares of Park National Co. (NYSE:PRK)

PNC Financial Services Group Inc. decreased its position in Park National Co. (NYSE:PRK) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,201 shares of the company’s stock after selling 82 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Park National were worth $1,090,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PRK. Vanguard Group Inc. lifted its holdings in shares of Park National by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock worth $226,009,000 after acquiring an additional 12,925 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in Park National by 68.9% in the fourth quarter. Rafferty Asset Management LLC now owns 10,892 shares of the company’s stock worth $1,447,000 after purchasing an additional 4,443 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Park National in the fourth quarter worth $208,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Park National during the fourth quarter valued at about $31,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Park National by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 457,745 shares of the company’s stock valued at $60,818,000 after buying an additional 10,266 shares during the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Trading Down 0.2 %

Shares of PRK opened at $135.65 on Monday. The firm has a fifty day simple moving average of $135.65 and a two-hundred day simple moving average of $132.11. Park National Co. has a twelve month low of $90.28 and a twelve month high of $144.01. The stock has a market capitalization of $2.19 billion, a P/E ratio of 17.17 and a beta of 0.71. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16.

Park National (NYSE:PRK) last posted its earnings results on Friday, April 19th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.30. Park National had a return on equity of 12.13% and a net margin of 22.03%. The company had revenue of $121.82 million for the quarter, compared to analysts’ expectations of $118.29 million. On average, research analysts anticipate that Park National Co. will post 8.12 EPS for the current year.

Park National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a dividend of $1.06 per share. The ex-dividend date was Thursday, May 16th. This represents a $4.24 annualized dividend and a dividend yield of 3.13%. Park National’s dividend payout ratio (DPR) is presently 53.67%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PRK shares. StockNews.com lowered Park National from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $130.00 price objective (up previously from $125.00) on shares of Park National in a research report on Wednesday, April 24th.

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.