Park National Co. (NYSE:PRK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its stake in Park National Co. (NYSE:PRK) by 81.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,443 shares of the company’s stock after selling 29,248 shares during the period. Victory Capital Management Inc.’s holdings in Park National were worth $917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Louisiana State Employees Retirement System raised its position in shares of Park National by 1.4% during the 2nd 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. Texas Permanent School Fund Corp raised its position in shares of Park National by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 12,553 shares of the company’s stock worth $1,705,000 after acquiring an additional 162 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Park National by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 2,890 shares of the company’s stock worth $393,000 after acquiring an additional 198 shares in the last quarter. Spreng Capital Management Inc. raised its position in shares of Park National by 11.6% during the 1st quarter. Spreng Capital Management Inc. now owns 2,767 shares of the company’s stock worth $376,000 after acquiring an additional 287 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Park National by 22.7% during the 1st quarter. Private Advisor Group LLC now owns 2,510 shares of the company’s stock worth $341,000 after acquiring an additional 464 shares in the last quarter. Institutional investors and hedge funds own 62.65% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark R. Ramser sold 546 shares of the firm’s stock in a transaction that occurred on 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 owns 379 shares in the company, valued at approximately $68,470.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Park National news, Director Mark R. Ramser sold 546 shares of Park National stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $180.66, for a total value of $98,640.36. Following the transaction, the director now directly owns 379 shares in the company, valued at approximately $68,470.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $84,925.24. Following the completion of 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Park National Trading Down 3.7 %

NYSE:PRK opened at $174.61 on Friday. The stock’s 50 day moving average price is $169.34 and its 200 day moving average price is $147.04. The company has a market capitalization of $2.82 billion, a PE ratio of 22.10 and a beta of 0.71. 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 Co. has a 52-week low of $91.78 and a 52-week high of $190.84.

Park National (NYSE:PRK) last released its quarterly earnings results on Monday, July 22nd. The company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.39. The firm had revenue of $126.63 million for the quarter, compared to the consensus estimate 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 declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were paid a dividend of $1.06 per share. The ex-dividend date was Friday, August 16th. This represents a $4.24 dividend on an annualized basis and a yield of 2.43%. Park National’s dividend payout ratio is presently 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.