Swiss National Bank boosted its holdings in shares of Park National Co. (NYSEAMERICAN:PRK) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,200 shares of the financial services provider’s stock after buying an additional 600 shares during the period. Swiss National Bank’s holdings in Park National were worth $4,016,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. J.W. Cole Advisors Inc. purchased a new stake in shares of Park National in the second quarter valued at about $747,000. Colonial Trust Advisors raised its holdings in shares of Park National by 3.9% in the second quarter. Colonial Trust Advisors now owns 3,951 shares of the financial services provider’s stock valued at $464,000 after purchasing an additional 150 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Park National by 31.9% in the second quarter. American Century Companies Inc. now owns 5,867 shares of the financial services provider’s stock valued at $689,000 after purchasing an additional 1,419 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Park National by 17.4% in the second quarter. Teacher Retirement System of Texas now owns 1,933 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 287 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in Park National by 0.9% during the second quarter. New York State Common Retirement Fund now owns 13,219 shares of the financial services provider’s stock valued at $1,552,000 after buying an additional 119 shares during the period. Hedge funds and other institutional investors own 51.09% of the company’s stock.
Separately, Boenning Scattergood upgraded shares of Park National from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 11th.
Park National (NYSEAMERICAN:PRK) last issued its earnings results on Sunday, July 25th. The financial services provider reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.36. The firm had revenue of $115.09 million during the quarter, compared to analyst estimates of $110.98 million. Park National had a net margin of 32.11% and a return on equity of 15.37%. Equities analysts predict that Park National Co. will post 8.7 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 20th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $4.12 annualized dividend and a yield of 3.58%. Park National’s dividend payout ratio is currently 53.44%.
Park National Company 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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