Russell Investments Group Ltd. Has $992,000 Stake in Park National Co. (PRK)
Russell Investments Group Ltd. increased its stake in shares of Park National Co. (NYSEAMERICAN:PRK) by 437.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,183 shares of the financial services provider’s stock after acquiring an additional 7,473 shares during the period. Russell Investments Group Ltd. owned 0.06% of Park National worth $992,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can boosted its stake in Park National by 33.1% during the 2nd quarter. Bank of Montreal Can now owns 1,374 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 342 shares during the period. Sei Investments Co. bought a new stake in Park National during the 2nd quarter valued at approximately $473,000. Schwab Charles Investment Management Inc. boosted its stake in Park National by 9.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 82,299 shares of the financial services provider’s stock valued at $8,537,000 after purchasing an additional 6,976 shares during the period. SG Americas Securities LLC bought a new stake in Park National during the 2nd quarter valued at approximately $524,000. Finally, Legal & General Group Plc boosted its stake in Park National by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 4,953 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 91 shares during the period.
A number of analysts have commented on PRK shares. Zacks Investment Research upgraded Park National from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research report on Thursday, October 26th. BidaskClub upgraded Park National from a “hold” rating to a “buy” rating in a research report on Friday, September 29th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Park National in a research report on Tuesday, October 24th.
Shares of Park National Co. (NYSEAMERICAN:PRK) opened at $104.00 on Friday. Park National Co. has a 52-week low of $92.42 and a 52-week high of $120.66. The company has a market capitalization of $1,610.00, a P/E ratio of 19.66 and a beta of 0.75.
Park National (NYSEAMERICAN:PRK) last posted its earnings results on Monday, October 23rd. The financial services provider reported $1.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by ($0.02). The company had revenue of $83.64 million for the quarter, compared to the consensus estimate of $81.14 million. Park National had a return on equity of 11.73% and a net margin of 26.44%.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were issued a dividend of $0.94 per share. The ex-dividend date was Thursday, November 16th. This represents a $3.76 dividend on an annualized basis and a yield of 3.62%. Park National’s dividend payout ratio is 71.08%.
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Park National 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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