Hennion & Walsh Asset Management Inc. Sells 174 Shares of Park National Co. (NYSE:PRK)

Hennion & Walsh Asset Management Inc. reduced its stake in Park National Co. (NYSE:PRK) by 5.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,234 shares of the company’s stock after selling 174 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Park National were worth $439,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of Park National by 6,882.5% during the 4th quarter. International Assets Investment Management LLC now owns 9,566 shares of the company’s stock worth $1,271,000 after purchasing an additional 9,429 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Park National by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 163,532 shares of the company’s stock worth $21,727,000 after buying an additional 6,724 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Park National by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock worth $226,009,000 after buying an additional 12,925 shares during the last quarter. Mariner LLC boosted its position in shares of Park National by 11.0% in the third quarter. Mariner LLC now owns 10,853 shares of the company’s stock valued at $1,026,000 after acquiring an additional 1,077 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Park National by 7.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,414 shares of the company’s stock worth $1,384,000 after acquiring an additional 753 shares during the last quarter. Institutional investors own 62.65% of the company’s stock.

Park National Stock Performance

PRK opened at $140.68 on Thursday. The stock has a market cap of $2.27 billion, a PE ratio of 17.81 and a beta of 0.71. Park National Co. has a 1 year low of $90.28 and a 1 year high of $144.66. The stock’s 50 day simple moving average is $137.24 and its 200-day simple moving average is $132.71. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16.

Park National (NYSE:PRK) last issued its earnings results on Friday, April 19th. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.30. Park National had a net margin of 22.03% and a return on equity of 12.13%. The business had revenue of $121.82 million for the quarter, compared to analyst estimates of $118.29 million. Sell-side analysts forecast that Park National Co. will post 8.12 EPS for the current year.

Park National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a $1.06 dividend. The ex-dividend date was Thursday, May 16th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.01%. Park National’s payout ratio is presently 53.67%.

Wall Street Analyst Weigh In

PRK has been the subject of a number of research reports. StockNews.com downgraded shares of Park National from a “hold” rating to a “sell” rating in a report on Wednesday, June 12th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $130.00 target price (up previously from $125.00) on shares of Park National in a research note 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.