Principal Financial Group Inc. Has $7.33 Million Holdings in Park National Co. (NYSE:PRK)

Principal Financial Group Inc. trimmed its holdings in Park National Co. (NYSE:PRKFree Report) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,519 shares of the company’s stock after selling 4,311 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Park National worth $7,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in shares of Park National by 47.8% in the first quarter. JPMorgan Chase & Co. now owns 13,739 shares of the company’s stock valued at $1,805,000 after purchasing an additional 4,446 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Park National by 105.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,910 shares of the company’s stock valued at $1,171,000 after purchasing an additional 4,577 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Park National by 55.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,759 shares of the company’s stock valued at $888,000 after purchasing an additional 2,400 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in shares of Park National by 9.1% in the first quarter. Cetera Advisor Networks LLC now owns 1,791 shares of the company’s stock valued at $235,000 after purchasing an additional 150 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of Park National by 12.7% in the first quarter. Citigroup Inc. now owns 12,662 shares of the company’s stock valued at $1,664,000 after purchasing an additional 1,424 shares in the last quarter. 52.27% of the stock is owned by institutional investors.

Park National Stock Performance

Shares of NYSE PRK opened at $128.50 on Monday. The business has a fifty day simple moving average of $128.13 and a 200 day simple moving average of $111.85. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 16.47 and a beta of 0.71. Park National Co. has a one year low of $90.28 and a one year high of $137.26.

Park National (NYSE:PRKGet Free Report) last released its quarterly earnings data on Monday, January 22nd. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.09. Park National had a return on equity of 12.17% and a net margin of 22.46%. The firm had revenue of $140.73 million during the quarter, compared to analyst estimates of $119.14 million. Sell-side analysts expect that Park National Co. will post 7.36 EPS for the current year.

Park National Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 16th will be paid a dividend of $1.06 per share. This is a positive change from Park National’s previous quarterly dividend of $1.05. This represents a $4.24 annualized dividend and a yield of 3.30%. The ex-dividend date is Thursday, February 15th. Park National’s dividend payout ratio is currently 53.85%.

Park National Company Profile

(Free Report)

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 for individual customers.

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Institutional Ownership by Quarter for Park National (NYSE:PRK)

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