Citigroup Inc. Purchases 5,416 Shares of Park National Co. (NYSE:PRK)

Citigroup Inc. raised its position in shares of Park National Co. (NYSE:PRK) by 30.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,113 shares of the company’s stock after purchasing an additional 5,416 shares during the period. Citigroup Inc. owned 0.14% of Park National worth $3,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of Park National by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,468 shares of the company’s stock worth $2,102,000 after buying an additional 521 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in Park National during the second quarter valued at about $121,000. Louisiana State Employees Retirement System raised its position in Park National by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 7,200 shares of the company’s stock valued at $1,025,000 after purchasing an additional 100 shares in the last quarter. Bank of New York Mellon Corp raised its position 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 purchasing an additional 1,288 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Park National in the second quarter worth about $499,000. 62.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Park National Price Performance

Shares of PRK opened at $189.14 on Wednesday. Park National Co. has a 1-year low of $114.80 and a 1-year high of $207.99. The firm has a fifty day simple moving average of $179.23 and a two-hundred day simple moving average of $164.19. 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 firm has a market cap of $3.06 billion, a PE ratio of 22.38 and a beta of 0.72.

Park National Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Friday, November 15th. Park National’s payout ratio is 50.18%.

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.