Rhumbline Advisers Sells 273 Shares of Park National Co. (PRK)
Rhumbline Advisers lowered its stake in Park National Co. (NYSEMKT:PRK) by 1.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,626 shares of the financial services provider’s stock after selling 273 shares during the quarter. Rhumbline Advisers owned about 0.12% of Park National worth $1,932,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its stake in Park National by 23,680.4% during the 1st quarter. BlackRock Inc. now owns 859,900 shares of the financial services provider’s stock valued at $90,461,000 after purchasing an additional 856,284 shares in the last quarter. Vanguard Group Inc. grew its stake in Park National by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 1,102,857 shares of the financial services provider’s stock valued at $116,020,000 after purchasing an additional 61,073 shares in the last quarter. Renaissance Technologies LLC grew its stake in Park National by 30.4% during the 1st quarter. Renaissance Technologies LLC now owns 100,705 shares of the financial services provider’s stock valued at $10,594,000 after purchasing an additional 23,479 shares in the last quarter. Citadel Advisors LLC grew its stake in Park National by 491.3% during the 1st quarter. Citadel Advisors LLC now owns 24,236 shares of the financial services provider’s stock valued at $2,550,000 after purchasing an additional 20,137 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Park National by 9.8% during the 2nd quarter. First Trust Advisors LP now owns 207,942 shares of the financial services provider’s stock valued at $21,568,000 after purchasing an additional 18,609 shares in the last quarter.
PRK has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Park National from a “hold” rating to a “sell” rating in a research note on Thursday, September 7th. BidaskClub lowered Park National from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th.
In other news, Director Robert E. Oneill purchased 2,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average cost of $97.05 per share, for a total transaction of $194,100.00. Following the completion of the purchase, the director now directly owns 3,280 shares of the company’s stock, valued at approximately $318,324. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
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Park National Co. (NYSEMKT PRK) opened at 101.25 on Friday. The firm’s 50-day moving average price is $97.32 and its 200-day moving average price is $102.90. Park National Co. has a 12-month low of $92.42 and a 12-month high of $122.88. The company has a market cap of $1.55 billion, a P/E ratio of 17.98 and a beta of 0.85.
Park National (NYSEMKT:PRK) last posted its quarterly earnings data on Monday, July 24th. The financial services provider reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.17). The business had revenue of $79.03 million during the quarter, compared to the consensus estimate of $81.39 million. Park National had a return on equity of 10.20% and a net margin of 24.08%. Analysts expect that Park National Co. will post $5.50 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were paid a $0.94 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.71%. Park National’s payout ratio is presently 72.73%.
Park National Company Profile
Park National Corporation (Park) is a financial holding company. Park’s principal business consists of owning and supervising its subsidiaries. Park’s banking operations are conducted through The Park National Bank (Park National Bank). Its segments include Park National Bank, Guardian Financial Services Company (Guardian Finance) and SE Property Holdings, LLC (SEPH).
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