Blue Trust Inc. Sells 3,228 Shares of Park National Co. (NYSE:PRK)

Blue Trust Inc. reduced its stake in Park National Co. (NYSE:PRK) by 65.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,701 shares of the company’s stock after selling 3,228 shares during the period. Blue Trust Inc.’s holdings in Park National were worth $286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. State Street Corp increased its holdings in Park National by 0.5% in the 3rd quarter. State Street Corp now owns 632,567 shares of the company’s stock valued at $106,259,000 after acquiring an additional 3,318 shares during the last quarter. Geode Capital Management LLC increased its holdings in Park National by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 334,188 shares of the company’s stock valued at $56,148,000 after acquiring an additional 3,165 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Park National by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 179,570 shares of the company’s stock valued at $30,164,000 after acquiring an additional 2,119 shares during the last quarter. Barclays PLC increased its holdings in Park National by 161.7% in the 3rd quarter. Barclays PLC now owns 28,528 shares of the company’s stock valued at $4,792,000 after acquiring an additional 17,627 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in Park National by 30.6% in the 3rd quarter. Citigroup Inc. now owns 23,113 shares of the company’s stock valued at $3,883,000 after acquiring an additional 5,416 shares during the last quarter. 62.65% of the stock is currently owned by institutional investors.

Park National Stock Performance

Park National stock opened at $168.63 on Wednesday. The company’s 50-day moving average price is $172.80 and its 200-day moving average price is $174.09. Park National Co. has a twelve month low of $123.08 and a twelve month high of $207.99. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.73 billion, a PE ratio of 18.11 and a beta of 0.73.

Park National Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Park National’s previous quarterly dividend of $1.06. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.54%. Park National’s payout ratio is 45.54%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $178.00 target price (down from $187.00) on shares of Park National in a report on Wednesday, January 29th.

Park National Company 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.