Park National Co. (NYSE:PRK) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp trimmed its position in shares of Park National Co. (NYSE:PRK) by 9.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,323 shares of the company’s stock after selling 1,230 shares during the period. Texas Permanent School Fund Corp owned approximately 0.07% of Park National worth $1,612,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PRK. Private Advisor Group LLC purchased a new stake in shares of Park National during the fourth quarter worth $272,000. Charles Schwab Investment Management Inc. increased its holdings in Park National by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 163,532 shares of the company’s stock valued at $21,727,000 after buying an additional 6,724 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Park National by 2.3% in 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. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Park National in the fourth quarter valued at $31,000. Finally, CWA Asset Management Group LLC purchased a new position in Park National in the fourth quarter valued at $208,000. 62.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Park National

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

Park National Stock Performance

Shares of PRK stock opened at $175.46 on Thursday. The stock’s 50-day moving average is $168.35 and its two-hundred day moving average is $146.49. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 22.21 and a beta of 0.71. Park National Co. has a 1 year low of $91.78 and a 1 year high of $190.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94.

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

Park National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were paid a dividend of $1.06 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.24 annualized dividend and a dividend yield of 2.42%. Park National’s dividend payout ratio (DPR) is 53.67%.

Analysts Set New Price Targets

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

Park National Company Profile

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.