Virginia Retirement Systems ET AL acquired a new stake in Park National Co. (NYSEAMERICAN:PRK) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,900 shares of the financial services provider’s stock, valued at approximately $205,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PRK. Bank of Montreal Can increased its holdings in Park National by 33.1% in the second quarter. Bank of Montreal Can now owns 1,374 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 342 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Park National by 252.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,332 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 1,670 shares during the period. Alliance Wealth Management Group acquired a new stake in Park National during the 3rd quarter worth about $314,000. Commonwealth Equity Services Inc acquired a new stake in Park National during the 3rd quarter worth about $396,000. Finally, Sei Investments Co. acquired a new stake in Park National during the 2nd quarter worth about $473,000.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Park National from a “hold” rating to a “buy” rating and set a $124.00 price target for the company in a report on Thursday, October 26th. Boenning Scattergood reiterated a “hold” rating on shares of Park National in a report on Tuesday, October 24th. Finally, BidaskClub upgraded Park National from a “hold” rating to a “buy” rating in a report on Friday, September 29th.
Park National (NYSEAMERICAN:PRK) last released its quarterly earnings data on Monday, October 23rd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.46 by ($0.02). The company had revenue of $83.64 million for the quarter, compared to the consensus estimate of $81.14 million. Park National had a return on equity of 11.73% and a net margin of 26.44%.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were given a dividend of $0.94 per share. The ex-dividend date was Thursday, November 16th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.58%. Park National’s dividend payout ratio (DPR) is presently 71.08%.
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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