Crossmark Global Holdings Inc. Takes $280,000 Position in Park National Co. (NYSE:PRK)

Crossmark Global Holdings Inc. acquired 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. The fund acquired 1,671 shares of the company’s stock, valued at approximately $280,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of Park National by 56.1% during the first quarter. SG Americas Securities LLC now owns 1,789 shares of the company’s stock worth $243,000 after purchasing an additional 643 shares during the last quarter. ProShare Advisors LLC grew its holdings in Park National by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 2,890 shares of the company’s stock worth $393,000 after acquiring an additional 198 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Park National by 6.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,975 shares of the company’s stock valued at $1,756,000 after acquiring an additional 747 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Park National by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,468 shares of the company’s stock valued at $2,102,000 after acquiring an additional 521 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Park National during the second quarter worth $121,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

Analyst Ratings Changes

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

Park National Price Performance

Park National stock opened at $192.55 on Monday. The stock’s 50 day moving average is $173.94 and its 200 day moving average is $159.48. Park National Co. has a one year low of $109.65 and a one year high of $207.51. The firm has a market cap of $3.11 billion, a P/E ratio of 22.79 and a beta of 0.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95.

Park National Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.04%. Park National’s dividend payout ratio (DPR) is currently 50.18%.

About Park National

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.