Mutual of America Capital Management LLC Sells 176 Shares of Park National Co. (NYSE:PRK)

Mutual of America Capital Management LLC trimmed its position in shares of Park National Co. (NYSE:PRK) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,187 shares of the company’s stock after selling 176 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Park National were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PRK. nVerses Capital LLC purchased a new stake in Park National during the second quarter valued at $85,000. MFA Wealth Advisors LLC purchased a new stake in shares of Park National during the 2nd quarter valued at about $121,000. Contravisory Investment Management Inc. bought a new position in shares of Park National in the 3rd quarter worth approximately $227,000. PDS Planning Inc purchased a new position in shares of Park National in the third quarter worth approximately $228,000. Finally, Algert Global LLC bought a new stake in Park National during the second quarter valued at approximately $231,000. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

Park National Stock Down 1.5 %

NYSE PRK opened at $192.47 on Thursday. Park National Co. has a 52 week low of $109.65 and a 52 week high of $207.99. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.11 billion, a P/E ratio of 22.78 and a beta of 0.70. The stock’s 50-day moving average price is $177.89 and its 200-day moving average price is $162.63.

Park National Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, November 15th. Park National’s dividend payout ratio is currently 50.18%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Park National from a “hold” rating to a “sell” rating in a research note 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.