Stifel Financial Corp Increases Position in Park National Co. (NYSE:PRK)

Stifel Financial Corp raised its position in shares of Park National Co. (NYSE:PRK) by 30.4% during the third quarter, HoldingsChannel reports. The firm owned 4,417 shares of the company’s stock after purchasing an additional 1,029 shares during the period. Stifel Financial Corp’s holdings in Park National were worth $742,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in shares of Park National by 4.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,709 shares of the company’s stock valued at $287,000 after buying an additional 80 shares in the last quarter. Arizona State Retirement System grew its position in Park National by 1.9% during the second quarter. Arizona State Retirement System now owns 4,512 shares of the company’s stock valued at $642,000 after acquiring an additional 83 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of 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 acquiring an additional 100 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Park National by 3.1% in the 3rd quarter. New York State Teachers Retirement System now owns 3,277 shares of the company’s stock worth $550,000 after acquiring an additional 100 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Park National by 1.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 8,082 shares of the company’s stock valued at $1,358,000 after purchasing an additional 116 shares in the last quarter. Institutional investors own 62.65% of the company’s stock.

Park National Price Performance

Shares of NYSE:PRK opened at $176.06 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.84 billion, a PE ratio of 20.84 and a beta of 0.72. The company’s fifty day moving average is $184.63 and its 200 day moving average is $168.87. Park National Co. has a 52 week low of $123.08 and a 52 week high of $207.99.

Park National Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, November 15th. Park National’s dividend payout ratio (DPR) is presently 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.