Stifel Financial Corp Boosts Stock Holdings in Park National Co. (NYSE:PRK)

Stifel Financial Corp boosted its position in Park National Co. (NYSE:PRK) by 30.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,417 shares of the company’s stock after buying an additional 1,029 shares during the quarter. Stifel Financial Corp’s holdings in Park National were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Park National in the 2nd quarter worth about $85,000. Contravisory Investment Management Inc. purchased a new position in shares of Park National in the third quarter worth about $227,000. PDS Planning Inc bought a new stake in shares of Park National in the third quarter valued at approximately $228,000. CWA Asset Management Group LLC purchased a new stake in shares of Park National during the 3rd quarter valued at approximately $263,000. Finally, Algert Global LLC bought a new position in Park National in the 2nd quarter worth approximately $231,000. 62.65% of the stock is currently owned by institutional investors.

Park National Trading Up 0.6 %

Shares of PRK stock opened at $176.06 on Wednesday. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 20.84 and a beta of 0.72. The company’s fifty day simple moving average is $184.63 and its two-hundred day simple moving average is $168.87. Park National Co. has a 1 year low of $123.08 and a 1 year high of $207.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95.

Park National Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, November 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.14%. 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.