Park National Co. (NYSE:PRK) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its holdings in Park National Co. (NYSE:PRK) by 39.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,062 shares of the company’s stock after purchasing an additional 1,144 shares during the quarter. BNP Paribas Financial Markets’ holdings in Park National were worth $682,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its position in Park National by 729.6% during the 3rd quarter. FMR LLC now owns 7,815 shares of the company’s stock worth $1,313,000 after purchasing an additional 6,873 shares during the last quarter. Advantage Alpha Capital Partners LP grew its holdings in shares of Park National by 9.0% during the third quarter. Advantage Alpha Capital Partners LP now owns 3,016 shares of the company’s stock worth $507,000 after buying an additional 249 shares during the last quarter. Citigroup Inc. increased its position in Park National by 30.6% in the 3rd quarter. Citigroup Inc. now owns 23,113 shares of the company’s stock valued at $3,883,000 after acquiring an additional 5,416 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Park National by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 179,570 shares of the company’s stock valued at $30,164,000 after acquiring an additional 2,119 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Park National during the 3rd quarter valued at approximately $351,000. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Park National from a “hold” rating to a “sell” rating in a report on Friday, August 23rd.

Park National Stock Down 1.6 %

Shares of NYSE:PRK opened at $186.69 on Friday. 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 $3.02 billion, a price-to-earnings ratio of 22.09 and a beta of 0.72. The stock’s 50-day moving average price is $182.80 and its two-hundred day moving average price is $166.33. Park National Co. has a 12-month low of $123.08 and a 12-month high of $207.99.

Park National Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, November 15th. Park National’s dividend payout ratio is presently 50.18%.

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.