Huntington National Bank Increases Position in Park National Co. (NYSE:PRK)

Huntington National Bank boosted its holdings in shares of Park National Co. (NYSE:PRK) by 13.2% during the third quarter, HoldingsChannel.com reports. The firm owned 2,309 shares of the company’s stock after purchasing an additional 269 shares during the period. Huntington National Bank’s holdings in Park National were worth $388,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new position in shares of Park National during the 3rd quarter valued at approximately $288,000. Crossmark Global Holdings Inc. purchased a new stake in Park National in the 3rd quarter worth $280,000. Atria Investments Inc raised its position in Park National by 31.6% during the third quarter. Atria Investments Inc now owns 3,367 shares of the company’s stock worth $566,000 after acquiring an additional 809 shares during the period. CWA Asset Management Group LLC purchased a new position in Park National during the third quarter valued at $263,000. Finally, PDS Planning Inc acquired a new stake in shares of Park National in the third quarter valued at about $228,000. 62.65% of the stock is owned by institutional investors and hedge funds.

Park National Stock Performance

Shares of NYSE:PRK opened at $192.55 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. Park National Co. has a 1 year low of $109.65 and a 1 year high of $207.51. The firm has a market capitalization of $3.11 billion, a PE ratio of 22.79 and a beta of 0.70. The business’s 50 day moving average price is $173.94 and its 200-day moving average price is $159.29.

Park National Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

Park National 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.