Atria Investments Inc Purchases 809 Shares of Park National Co. (NYSE:PRK)

Atria Investments Inc boosted its stake in shares of Park National Co. (NYSE:PRK) by 31.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,367 shares of the company’s stock after buying an additional 809 shares during the period. Atria Investments Inc’s holdings in Park National were worth $566,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Park National by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 495,375 shares of the company’s stock valued at $70,507,000 after acquiring an additional 21,221 shares during the period. Arbor Investment Advisors LLC purchased a new position in Park National in the 3rd quarter valued at about $687,000. Creekside Partners purchased a new position in Park National in the 2nd quarter valued at about $579,000. Quest Partners LLC lifted its stake in Park National by 40,100.0% in the 2nd quarter. Quest Partners LLC now owns 4,020 shares of the company’s stock valued at $572,000 after buying an additional 4,010 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new position in Park National in the 2nd quarter worth approximately $499,000. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Price Performance

Park National stock opened at $190.11 on Wednesday. Park National Co. has a 12-month low of $109.65 and a 12-month high of $207.51. The stock has a market cap of $3.07 billion, a P/E ratio of 22.55 and a beta of 0.70. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $174.46 and a 200-day simple moving average of $160.04.

Park National Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, November 15th. Park National’s payout ratio is 50.18%.

Wall Street Analyst Weigh In

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

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.