MTM Investment Management LLC Sells 63 Shares of Park National Co. (NYSE:PRK)

MTM Investment Management LLC lowered its stake in shares of Park National Co. (NYSE:PRK) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,940 shares of the company’s stock after selling 63 shares during the period. MTM Investment Management LLC’s holdings in Park National were worth $808,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of Park National by 56.1% during the 1st quarter. SG Americas Securities LLC now owns 1,789 shares of the company’s stock valued at $243,000 after buying an additional 643 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Park National by 7.4% during the first quarter. ProShare Advisors LLC now owns 2,890 shares of the company’s stock valued at $393,000 after purchasing an additional 198 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Park National by 6.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 12,975 shares of the company’s stock worth $1,756,000 after purchasing an additional 747 shares during the period. Price T Rowe Associates Inc. MD increased 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 purchasing an additional 521 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Park National in the second quarter worth about $121,000. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Stock Performance

NYSE:PRK opened at $190.11 on Wednesday. The business’s fifty day moving average is $174.95 and its 200 day moving average is $160.42. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 22.50 and a beta of 0.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. Park National Co. has a 52-week low of $109.65 and a 52-week high of $207.51.

Park National Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, November 15th. Park National’s dividend payout ratio is presently 50.18%.

Wall Street Analyst Weigh In

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