California Public Employees Retirement System Lowers Stake in Park National Co. (NYSEAMERICAN:PRK)

California Public Employees Retirement System lessened its position in Park National Co. (NYSEAMERICAN:PRK) by 75.6% during the second quarter, Holdings Channel.com reports. The fund owned 7,134 shares of the financial services provider’s stock after selling 22,067 shares during the period. California Public Employees Retirement System’s holdings in Park National were worth $838,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PRK. Russell Investments Group Ltd. bought a new stake in shares of Park National during the 1st quarter valued at about $253,000. UBS Group AG boosted its stake in shares of Park National by 8.8% during the 1st quarter. UBS Group AG now owns 17,698 shares of the financial services provider’s stock valued at $2,289,000 after purchasing an additional 1,427 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Park National by 38.9% during the 1st quarter. JPMorgan Chase & Co. now owns 50,558 shares of the financial services provider’s stock valued at $6,537,000 after purchasing an additional 14,149 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Park National by 0.7% during the 1st quarter. Prudential Financial Inc. now owns 16,488 shares of the financial services provider’s stock valued at $2,132,000 after purchasing an additional 110 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Park National by 11.4% during the 1st quarter. Geode Capital Management LLC now owns 237,276 shares of the financial services provider’s stock valued at $30,679,000 after purchasing an additional 24,202 shares in the last quarter. 51.09% of the stock is currently owned by institutional investors and hedge funds.

NYSEAMERICAN:PRK opened at $123.82 on Thursday. Park National Co. has a one year low of $87.81 and a one year high of $141.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $2.02 billion, a P/E ratio of 12.87 and a beta of 0.85.

Park National (NYSEAMERICAN:PRK) last issued its earnings results on Sunday, October 24th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.02. Park National had a net margin of 32.11% and a return on equity of 15.37%. Research analysts anticipate that Park National Co. will post 8.7 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Friday, November 19th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Thursday, November 18th. This represents a $4.12 annualized dividend and a yield of 3.33%. Park National’s dividend payout ratio (DPR) is presently 53.44%.

A number of equities research analysts have recently weighed in on the stock. Boenning Scattergood raised shares of Park National from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 11th. Zacks Investment Research lowered shares of Park National from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 13th.

Park National Profile

Park National Corp. is a holding company, which engages in the provision of banking and non-banking financial services through its subsidiaries. It operates through the following segments: Park National Bank (PNB), Guardian Financial Services Company (GFSC), and All Other. The PNB segment provides general banking and trust services in Ohio, Kentucky, North Carolina, and South Carolina.

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

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