Koshinski Asset Management Inc. Takes Position in Park National Co. (NYSEAMERICAN:PRK)

Koshinski Asset Management Inc. purchased a new stake in shares of Park National Co. (NYSEAMERICAN:PRK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 86,928 shares of the financial services provider’s stock, valued at approximately $2,500,000.

Several other institutional investors have also recently made changes to their positions in the company. Captrust Financial Advisors boosted its position in Park National by 24.4% during the fourth quarter. Captrust Financial Advisors now owns 560 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 110 shares in the last quarter. Spreng Capital Management Inc. grew its stake in shares of Park National by 0.9% during the fourth quarter. Spreng Capital Management Inc. now owns 12,794 shares of the financial services provider’s stock worth $1,343,000 after acquiring an additional 120 shares during the last quarter. Mariner LLC grew its stake in shares of Park National by 1.5% during the fourth quarter. Mariner LLC now owns 10,503 shares of the financial services provider’s stock worth $1,103,000 after acquiring an additional 153 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Park National by 1.0% during the fourth quarter. Alliancebernstein L.P. now owns 20,529 shares of the financial services provider’s stock worth $2,156,000 after acquiring an additional 198 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Park National by 0.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 38,519 shares of the financial services provider’s stock worth $4,045,000 after acquiring an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 49.59% of the company’s stock.

Separately, Zacks Investment Research lowered Park National from a “buy” rating to a “hold” rating in a research note on Wednesday.

Shares of NYSEAMERICAN PRK opened at $127.94 on Thursday. The firm has a 50 day moving average price of $103.03. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 19.71 and a beta of 0.86. Park National Co. has a 52 week low of $64.53 and a 52 week high of $141.96. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.32.

Park National (NYSEAMERICAN:PRK) last issued its earnings results on Sunday, January 24th. The financial services provider reported $2.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.77. The firm had revenue of $121.98 million for the quarter, compared to analyst estimates of $115.61 million. Park National had a return on equity of 10.56% and a net margin of 22.60%. As a group, sell-side analysts anticipate that Park National Co. will post 6.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Friday, February 19th were issued a $1.03 dividend. The ex-dividend date was Thursday, February 18th. This is an increase from Park National’s previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a yield of 3.22%. Park National’s payout ratio is presently 63.78%.

Park National 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. It 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 (NYSEAMERICAN:PRK)

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