Park National Co. (NYSEAMERICAN:PRK) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 267,000 shares, an increase of 11.1% from the January 15th total of 240,400 shares. Based on an average daily trading volume, of 37,100 shares, the short-interest ratio is currently 7.2 days. Approximately 1.7% of the company’s stock are sold short.
In other news, Director Timothy S. Mclain sold 500 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $104.21, for a total transaction of $52,105.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in Park National by 0.9% in the 3rd quarter. State Street Corp now owns 304,082 shares of the financial services provider’s stock worth $28,830,000 after purchasing an additional 2,632 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Park National in the 3rd quarter worth about $163,000. Rhumbline Advisers boosted its stake in Park National by 7.7% in the 3rd quarter. Rhumbline Advisers now owns 22,770 shares of the financial services provider’s stock worth $2,159,000 after purchasing an additional 1,635 shares in the last quarter. Royal Bank of Canada boosted its stake in Park National by 52.3% in the 2nd quarter. Royal Bank of Canada now owns 632 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 217 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Park National by 15.1% in the 3rd quarter. First Trust Advisors LP now owns 428,237 shares of the financial services provider’s stock worth $40,601,000 after purchasing an additional 56,307 shares in the last quarter.
Separately, Zacks Investment Research cut shares of Park National from a “hold” rating to a “sell” rating in a report on Thursday, February 6th.
Shares of PRK stock opened at $99.72 on Friday. Park National has a 12 month low of $86.85 and a 12 month high of $105.52.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 21st will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, February 20th. This is a boost from Park National’s previous quarterly dividend of $1.01.
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 Ohio and Northern Kentucky. 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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