Virtu Financial LLC Acquires New Position in Park National Co. (NYSE:PRK)

Virtu Financial LLC bought a new position in shares of Park National Co. (NYSE:PRK) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,851 shares of the company’s stock, valued at approximately $311,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Park National during the second quarter worth $85,000. Contravisory Investment Management Inc. purchased a new position in Park National during the third quarter worth about $227,000. PDS Planning Inc acquired a new stake in Park National in the 3rd quarter worth about $228,000. Algert Global LLC purchased a new stake in Park National in the 2nd quarter valued at about $231,000. Finally, CWA Asset Management Group LLC acquired a new position in shares of Park National during the 3rd quarter valued at about $263,000. 62.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Park National from a “hold” rating to a “sell” rating in a report on Friday, August 23rd.

Park National Trading Up 0.6 %

Shares of PRK opened at $188.02 on Tuesday. Park National Co. has a twelve month low of $123.08 and a twelve month high of $207.99. The firm has a market capitalization of $3.04 billion, a P/E ratio of 22.25 and a beta of 0.72. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $183.26 and its 200 day simple moving average is $167.13.

Park National Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, November 15th. Park National’s dividend payout ratio is currently 50.18%.

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.