Amalgamated Bank Decreases Stake in Park National Co. (NYSE:PRK)

Amalgamated Bank reduced its holdings in Park National Co. (NYSE:PRK) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,281 shares of the company’s stock after selling 114 shares during the quarter. Amalgamated Bank’s holdings in Park National were worth $719,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in shares of Park National by 74.6% during the first quarter. BNP Paribas Financial Markets now owns 7,164 shares of the company’s stock valued at $973,000 after purchasing an additional 3,062 shares in the last quarter. SG Americas Securities LLC raised its stake in Park National by 56.1% during the first quarter. SG Americas Securities LLC now owns 1,789 shares of the company’s stock valued at $243,000 after buying an additional 643 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Park National by 7.4% in the first quarter. ProShare Advisors LLC now owns 2,890 shares of the company’s stock worth $393,000 after purchasing an additional 198 shares during the last quarter. Spreng Capital Management Inc. raised its stake in shares of Park National by 11.6% in the first quarter. Spreng Capital Management Inc. now owns 2,767 shares of the company’s stock worth $376,000 after purchasing an additional 287 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Park National by 6.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 12,975 shares of the company’s stock worth $1,756,000 after purchasing an additional 747 shares during the last quarter. 62.65% of the stock is currently owned by institutional investors.

Park National Stock Performance

NYSE PRK opened at $192.20 on Friday. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 22.74 and a beta of 0.70. 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 business has a 50-day moving average price of $173.39 and a 200-day moving average price of $158.88. Park National Co. has a twelve month low of $109.65 and a twelve month high of $207.51.

Park National Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.00 dividend on an annualized basis and a yield of 1.04%. Park National’s dividend payout ratio (DPR) is presently 50.18%.

Analyst Ratings Changes

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

About Park National

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.