Thrivent Financial for Lutherans Sells 179 Shares of Park National Co. (NYSE:PRK)

Thrivent Financial for Lutherans cut its holdings in shares of Park National Co. (NYSE:PRK) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,753 shares of the company’s stock after selling 179 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.07% of Park National worth $1,974,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PRK. Huntington National Bank raised its stake in Park National by 13.2% during the 3rd quarter. Huntington National Bank now owns 2,309 shares of the company’s stock valued at $388,000 after purchasing an additional 269 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Park National during the 3rd quarter valued at approximately $288,000. Crossmark Global Holdings Inc. bought a new stake in shares of Park National during the third quarter valued at approximately $280,000. Atria Investments Inc lifted its holdings in shares of Park National by 31.6% in the third quarter. Atria Investments Inc now owns 3,367 shares of the company’s stock worth $566,000 after buying an additional 809 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of Park National during the third quarter worth $263,000. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

Park National Stock Down 1.6 %

NYSE PRK opened at $192.18 on Friday. The stock has a 50 day moving average price of $178.11 and a 200-day moving average price of $162.83. Park National Co. has a one year low of $109.65 and a one year high of $207.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $3.11 billion, a P/E ratio of 22.74 and a beta of 0.70.

Park National Cuts Dividend

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

Analyst Ratings Changes

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.