Franklin Resources Inc. Buys Shares of 3,426 Park National Co. (NYSE:PRK)

Franklin Resources Inc. acquired a new stake in Park National Co. (NYSE:PRK - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,426 shares of the company's stock, valued at approximately $591,000.

A number of other institutional investors have also recently made changes to their positions in PRK. Sanctuary Advisors LLC raised its stake in shares of Park National by 11.3% during the third quarter. Sanctuary Advisors LLC now owns 2,366 shares of the company's stock valued at $397,000 after acquiring an additional 241 shares during the last quarter. Virtu Financial LLC purchased a new position in Park National during the 3rd quarter valued at about $311,000. Geode Capital Management LLC raised its position in Park National by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 334,188 shares of the company's stock valued at $56,148,000 after purchasing an additional 3,165 shares during the last quarter. Barclays PLC lifted its holdings in Park National by 161.7% in the 3rd quarter. Barclays PLC now owns 28,528 shares of the company's stock worth $4,792,000 after buying an additional 17,627 shares during the period. Finally, Hamilton Capital LLC grew its position in shares of Park National by 108.3% in the 3rd quarter. Hamilton Capital LLC now owns 4,997 shares of the company's stock worth $863,000 after buying an additional 2,598 shares during the last quarter. Hedge funds and other institutional investors own 62.65% of the company's stock.

Park National Trading Down 0.4 %

Shares of Park National stock traded down $0.72 during midday trading on Tuesday, reaching $171.43. 35,203 shares of the company's stock traded hands, compared to its average volume of 53,154. The stock has a 50 day moving average of $184.63 and a 200-day moving average of $170.53. Park National Co. has a 12 month low of $123.08 and a 12 month high of $207.99. The company has a market cap of $2.77 billion, a PE ratio of 20.29 and a beta of 0.72. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Friday, November 15th. Park National's payout ratio is 50.18%.

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. 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.