Park National Co. (NYSE:PRK) Stock Holdings Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in shares of Park National Co. (NYSE:PRK) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,932 shares of the company’s stock after selling 511 shares during the quarter. Thrivent Financial for Lutherans owned about 0.07% of Park National worth $1,698,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Park National by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 495,375 shares of the company’s stock worth $70,507,000 after acquiring an additional 21,221 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Park National by 40,100.0% during the 2nd quarter. Quest Partners LLC now owns 4,020 shares of the company’s stock worth $572,000 after acquiring an additional 4,010 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Park National by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 4,512 shares of the company’s stock worth $642,000 after acquiring an additional 83 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Park National during the 2nd quarter worth $85,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Park National during the 2nd quarter worth $499,000. 62.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Mark R. Ramser sold 454 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $187.06, for a total transaction of $84,925.24. Following the completion of the sale, the director now directly owns 925 shares in the company, valued at $173,030.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Park National news, Director Mark R. Ramser sold 546 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $180.66, for a total transaction of $98,640.36. Following the transaction, the director now directly owns 379 shares in the company, valued at $68,470.14. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark R. Ramser sold 454 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $187.06, for a total value of $84,925.24. Following the transaction, the director now owns 925 shares in the company, valued at $173,030.50. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Park National Price Performance

PRK opened at $160.00 on Thursday. The stock has a fifty day moving average of $168.49 and a 200-day moving average of $149.09. The firm has a market capitalization of $2.58 billion, a P/E ratio of 20.25 and a beta of 0.71. Park National Co. has a 12-month low of $91.78 and a 12-month high of $190.84. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16.

Park National (NYSE:PRK) last released its earnings results on Monday, July 22nd. The company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.39. The company had revenue of $126.63 million during the quarter, compared to analyst estimates of $120.52 million. Park National had a return on equity of 12.49% and a net margin of 22.67%.

Park National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were issued a dividend of $1.06 per share. The ex-dividend date was Friday, August 16th. This represents a $4.24 annualized dividend and a dividend yield of 2.65%. Park National’s dividend payout ratio is 53.67%.

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.