Koshinski Asset Management Inc. Purchases New Shares in Park National Co. (NYSEAMERICAN:PRK)


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Koshinski Asset Management Inc. purchased a new stake in Park National Co. (NYSEAMERICAN:PRK) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 86,928 shares of the financial services provider’s stock, valued at approximately $2,500,000. Koshinski Asset Management Inc. owned approximately 0.53% of Park National as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in shares of Park National by 3.5% during the 4th quarter. BlackRock Inc. now owns 2,205,173 shares of the financial services provider’s stock valued at $231,565,000 after buying an additional 74,183 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Park National by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 197,765 shares of the financial services provider’s stock valued at $20,768,000 after buying an additional 3,702 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Park National by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 120,092 shares of the financial services provider’s stock valued at $12,611,000 after buying an additional 862 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Park National by 30.1% during the 4th quarter. Morgan Stanley now owns 64,839 shares of the financial services provider’s stock valued at $6,808,000 after buying an additional 15,018 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Park National by 1.9% during the 4th quarter. Nuveen Asset Management LLC now owns 63,697 shares of the financial services provider’s stock valued at $6,689,000 after buying an additional 1,203 shares in the last quarter. Institutional investors and hedge funds own 49.59% of the company’s stock.

Separately, Zacks Investment Research cut shares of 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. Park National Co. has a fifty-two week low of $64.53 and a fifty-two week high of $141.96. The stock has a 50-day simple moving average of $103.03. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 19.71 and a beta of 0.86.

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

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Friday, February 19th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Thursday, February 18th. This represents a $4.12 annualized dividend and a dividend yield of 3.22%. This is a positive change from Park National’s previous quarterly dividend of $1.02. Park National’s dividend payout ratio is presently 63.78%.

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. 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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