TIAA CREF Investment Management LLC increased its holdings in Park National Co. (NYSEMKT:PRK) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,167 shares of the financial services provider’s stock after purchasing an additional 274 shares during the quarter. TIAA CREF Investment Management LLC owned 0.24% of Park National worth $3,751,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRK. Vanguard Group Inc. raised its holdings in shares of Park National by 5.9% during the first quarter. Vanguard Group Inc. now owns 1,102,857 shares of the financial services provider’s stock valued at $116,020,000 after acquiring an additional 61,073 shares during the period. BlackRock Inc. raised its holdings in shares of Park National by 23,680.4% during the first quarter. BlackRock Inc. now owns 859,900 shares of the financial services provider’s stock valued at $90,461,000 after acquiring an additional 856,284 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Park National by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 286,128 shares of the financial services provider’s stock valued at $30,101,000 after acquiring an additional 6,417 shares during the period. First Trust Advisors LP raised its holdings in shares of Park National by 9.8% during the second quarter. First Trust Advisors LP now owns 207,942 shares of the financial services provider’s stock valued at $21,568,000 after acquiring an additional 18,609 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Park National by 10.8% during the first quarter. Geode Capital Management LLC now owns 108,149 shares of the financial services provider’s stock valued at $11,377,000 after acquiring an additional 10,573 shares during the period.
In related news, Director Leon Zazworsky bought 2,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were purchased at an average cost of $98.92 per share, for a total transaction of $197,840.00. Following the acquisition, the director now owns 5,197 shares of the company’s stock, valued at approximately $514,087.24. The purchase was disclosed in a filing with the SEC, which is available at this link.
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Shares of Park National Co. (NYSEMKT:PRK) opened at 111.25 on Monday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 19.76 and a beta of 0.85. Park National Co. has a 12-month low of $92.42 and a 12-month high of $122.88. The stock’s 50 day moving average is $104.72 and its 200-day moving average is $103.06.
Park National (NYSEMKT:PRK) last released its quarterly earnings data on Monday, July 24th. The financial services provider reported $1.24 earnings per share for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $81.39 million. On average, analysts anticipate that Park National Co. will post $5.50 EPS for the current fiscal year.
A number of research firms have recently issued reports on PRK. Zacks Investment Research upgraded shares of Park National from a “sell” rating to a “hold” rating in a report on Friday, August 11th. BidaskClub upgraded shares of Park National from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th.
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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