Creekside Partners Invests $579,000 in Park National Co. (NYSE:PRK)

Creekside Partners acquired a new stake in shares of Park National Co. (NYSE:PRK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,071 shares of the company’s stock, valued at approximately $579,000.

A number of other hedge funds also recently bought and sold shares of PRK. Vanguard Group Inc. grew its stake in shares of Park National by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock valued at $226,009,000 after purchasing an additional 12,925 shares during the period. Dimensional Fund Advisors LP grew its position in Park National by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 495,375 shares of the company’s stock valued at $70,507,000 after buying an additional 21,221 shares during the period. Bank of New York Mellon Corp increased its holdings in Park National by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 153,579 shares of the company’s stock valued at $21,860,000 after buying an additional 1,288 shares during the last quarter. Public Sector Pension Investment Board raised its position in Park National by 7.7% in the second quarter. Public Sector Pension Investment Board now owns 31,666 shares of the company’s stock worth $4,507,000 after acquiring an additional 2,264 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Park National by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,468 shares of the company’s stock worth $2,102,000 after acquiring an additional 521 shares during the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Park National

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

Park National Stock Down 2.4 %

PRK stock opened at $163.94 on Wednesday. The business’s 50-day moving average price is $169.36 and its 200-day moving average price is $148.77. The stock has a market cap of $2.65 billion, a P/E ratio of 20.75 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 twelve month low of $91.78 and a twelve month high of $190.84.

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

Park National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were paid a $1.06 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.24 dividend on an annualized basis and a yield of 2.59%. Park National’s payout ratio is presently 53.67%.

Park National 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.