Park National Co. (PRK) Holdings Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in Park National Co. (NYSEMKT:PRK) by 11.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,918 shares of the financial services provider’s stock after selling 882 shares during the period. PNC Financial Services Group Inc.’s holdings in Park National were worth $718,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Park National by 30.4% in 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. SG Americas Securities LLC acquired a new position in shares of Park National in the 2nd quarter valued at approximately $524,000. Schwab Charles Investment Management Inc. raised its position in shares of Park National by 10.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 75,323 shares of the financial services provider’s stock valued at $7,924,000 after purchasing an additional 7,041 shares in the last quarter. American International Group Inc. raised its position in shares of Park National by 7.0% in the 1st quarter. American International Group Inc. now owns 8,181 shares of the financial services provider’s stock valued at $861,000 after purchasing an additional 532 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Park National by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 286,128 shares of the financial services provider’s stock valued at $30,101,000 after purchasing an additional 6,417 shares in the last quarter.

Park National (NYSEMKT:PRK) last announced its quarterly earnings data on Monday, July 24th. The financial services provider reported $1.24 EPS for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.17). Park National had a return on equity of 10.20% and a net margin of 24.08%. The firm had revenue of $79.03 million during the quarter, compared to the consensus estimate of $81.39 million.

In other news, Director Robert E. Oneill acquired 2,000 shares of Park National stock in a transaction on Thursday, August 10th. The stock was bought at an average price of $97.05 per share, for a total transaction of $194,100.00. Following the transaction, the director now owns 3,280 shares of the company’s stock, valued at $318,324. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

A number of equities research analysts have recently weighed in on PRK shares. Zacks Investment Research downgraded Park National from a “hold” rating to a “sell” rating in a report on Friday, July 28th. BidaskClub downgraded Park National from a “hold” rating to a “sell” rating in a report on Friday, June 23rd.

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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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Institutional Ownership by Quarter for Park National (NYSEMKT:PRK)

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