Sensible Money LLC Sells 500 Shares of Park National Co. (NYSE:PRK)

Sensible Money LLC trimmed its position in shares of Park National Co. (NYSE:PRK) by 22.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,688 shares of the company’s stock after selling 500 shares during the quarter. Sensible Money LLC’s holdings in Park National were worth $284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Park National by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock valued at $226,009,000 after purchasing an additional 12,925 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Park National by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 495,375 shares of the company’s stock valued at $70,507,000 after buying an additional 21,221 shares during the period. Bank of New York Mellon Corp raised its position in shares of Park National by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 153,579 shares of the company’s stock worth $21,860,000 after acquiring an additional 1,288 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Park National by 7.7% in the second quarter. Public Sector Pension Investment Board now owns 31,666 shares of the company’s stock worth $4,507,000 after acquiring an additional 2,264 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Park National by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,468 shares of the company’s stock worth $2,102,000 after acquiring an additional 521 shares during the period. 62.65% of the stock is currently owned by institutional investors.

Insider Transactions at Park National

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

Park National Trading Up 3.6 %

NYSE PRK opened at $179.90 on Thursday. The stock has a market capitalization of $2.91 billion, a P/E ratio of 22.77 and a beta of 0.70. The business has a 50 day simple moving average of $167.68 and a 200 day simple moving average of $151.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94. Park National Co. has a one year low of $92.57 and a one year high of $190.84.

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

Park National Announces Dividend

The company also recently disclosed 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 was Friday, August 16th. This represents a $4.24 annualized dividend and a dividend yield of 2.36%. Park National’s dividend payout ratio is 53.67%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Park National from a “hold” rating to a “sell” rating in a research note 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.