Contravisory Investment Management Inc. Buys New Holdings in Park National Co. (NYSE:PRK)

Contravisory Investment Management Inc. purchased a new position in shares of Park National Co. (NYSE:PRK) during the third quarter, HoldingsChannel reports. The firm purchased 1,351 shares of the company’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Park National by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 495,375 shares of the company’s stock worth $70,507,000 after acquiring an additional 21,221 shares during the last quarter. Vanguard Group Inc. boosted its position in Park National by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock worth $226,009,000 after purchasing an additional 12,925 shares during the period. Creekside Partners bought a new position in Park National during the second quarter worth $579,000. Quest Partners LLC lifted its stake in shares of Park National by 40,100.0% during the 2nd quarter. Quest Partners LLC now owns 4,020 shares of the company’s stock worth $572,000 after buying an additional 4,010 shares during the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Park National during the 2nd quarter worth about $499,000. Institutional investors own 62.65% of the company’s stock.

Park National Stock Performance

NYSE:PRK opened at $170.93 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $166.46 and a 200 day simple moving average of $150.34. Park National Co. has a 1-year low of $92.57 and a 1-year high of $190.84. The stock has a market cap of $2.76 billion, a P/E ratio of 21.65 and a beta of 0.70.

Park National (NYSE:PRK) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.39. Park National had a return on equity of 12.49% and a net margin of 22.67%. The firm had revenue of $126.63 million for the quarter, compared to analysts’ expectations of $120.52 million. Research analysts anticipate that Park National Co. will post 9.12 earnings per share for the current year.

Park National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were issued a dividend of $1.06 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.24 annualized dividend and a dividend yield of 2.48%. Park National’s dividend payout ratio is presently 53.67%.

Insider Transactions at Park National

In related news, Director Mark R. Ramser sold 546 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $180.66, for a total transaction of $98,640.36. Following the sale, the director now owns 379 shares of the company’s stock, valued at $68,470.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Mark R. Ramser sold 454 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $187.06, for a total transaction of $84,925.24. Following the completion of the sale, the director now owns 925 shares of the company’s stock, valued at approximately $173,030.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark R. Ramser sold 546 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $180.66, for a total transaction of $98,640.36. Following the sale, the director now owns 379 shares in the company, valued at $68,470.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

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

About Park National

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.