MTM Investment Management LLC Sells 215 Shares of Park National Co. (NYSE:PRK)

MTM Investment Management LLC lessened its holdings in Park National Co. (NYSE:PRK) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,725 shares of the company’s stock after selling 215 shares during the period. MTM Investment Management LLC’s holdings in Park National were worth $810,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Berkshire Money Management Inc. bought a new position in Park National in the 4th quarter valued at $553,000. Colton Groome Financial Advisors LLC bought a new position in Park National in the 4th quarter valued at $236,000. Asset Dedication LLC grew its position in Park National by 367.4% in the 4th quarter. Asset Dedication LLC now owns 1,636 shares of the company’s stock valued at $280,000 after acquiring an additional 1,286 shares during the last quarter. Summit Financial Strategies Inc. grew its position in Park National by 9.2% in the 4th quarter. Summit Financial Strategies Inc. now owns 10,042 shares of the company’s stock valued at $1,721,000 after acquiring an additional 848 shares during the last quarter. Finally, KBC Group NV grew its position in Park National by 55.8% in the 4th quarter. KBC Group NV now owns 787 shares of the company’s stock valued at $135,000 after acquiring an additional 282 shares during the last quarter. Institutional investors own 62.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $178.00 price objective (down previously from $187.00) on shares of Park National in a research report on Wednesday, January 29th.

Park National Price Performance

Shares of PRK stock opened at $167.13 on Thursday. Park National Co. has a twelve month low of $123.08 and a twelve month high of $207.99. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 18.92 and a beta of 0.73. The stock has a fifty day simple moving average of $174.59 and a two-hundred day simple moving average of $174.32. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Park National Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.56%. This is a boost from Park National’s previous quarterly dividend of $1.06. The ex-dividend date is Friday, February 14th. Park National’s dividend payout ratio is currently 45.54%.

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.