Wealth Enhancement Advisory Services LLC Sells 836 Shares of Park National Co. (NYSE:PRK)

Wealth Enhancement Advisory Services LLC decreased its stake in Park National Co. (NYSE:PRK) by 35.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,522 shares of the company’s stock after selling 836 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Park National were worth $256,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Arizona State Retirement System grew its holdings in Park National by 1.9% during the second quarter. Arizona State Retirement System now owns 4,512 shares of the company’s stock worth $642,000 after purchasing an additional 83 shares during the period. Louisiana State Employees Retirement System grew its holdings in Park National by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 7,200 shares of the company’s stock worth $1,025,000 after purchasing an additional 100 shares during the period. Texas Permanent School Fund Corp grew its holdings in Park National by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 12,553 shares of the company’s stock worth $1,705,000 after purchasing an additional 162 shares during the period. ProShare Advisors LLC grew its holdings in Park National by 7.4% during the first quarter. ProShare Advisors LLC now owns 2,890 shares of the company’s stock worth $393,000 after purchasing an additional 198 shares during the period. Finally, Spreng Capital Management Inc. grew its holdings in Park National by 11.6% during the first quarter. Spreng Capital Management Inc. now owns 2,767 shares of the company’s stock worth $376,000 after purchasing an additional 287 shares during the period. Institutional investors own 62.65% of the company’s stock.

Wall Street Analyst Weigh In

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

Park National Stock Up 3.3 %

NYSE PRK opened at $197.91 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. Park National Co. has a 1-year low of $103.26 and a 1-year high of $207.51. The company has a 50 day moving average of $171.40 and a 200-day moving average of $157.51. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 23.39 and a beta of 0.70.

Park National Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.50 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.01%. 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.