Park National Co. (NYSEAMERICAN:PRK) Short Interest Update

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Park National Co. (NYSEAMERICAN:PRK) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 267,000 shares, a growth of 11.1% from the January 15th total of 240,400 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average trading volume of 37,100 shares, the days-to-cover ratio is presently 7.2 days.

In other Park National news, Director Timothy S. Mclain sold 500 shares of Park National stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Several hedge funds have recently bought and sold shares of PRK. Millennium Management LLC raised its stake in shares of Park National by 101.5% during the third quarter. Millennium Management LLC now owns 2,592 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 172,792 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Park National by 15.1% during the third quarter. First Trust Advisors LP now owns 428,237 shares of the financial services provider’s stock worth $40,601,000 after acquiring an additional 56,307 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Park National during the second quarter worth approximately $5,381,000. Martingale Asset Management L P purchased a new position in shares of Park National during the fourth quarter worth approximately $3,789,000. Finally, Bessemer Group Inc. purchased a new position in shares of Park National during the fourth quarter worth approximately $2,263,000.

Separately, Zacks Investment Research lowered shares of Park National from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th.

Shares of Park National stock opened at $99.72 on Friday. Park National has a 1 year low of $86.85 and a 1 year high of $105.52.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 21st will be paid a dividend of $1.02 per share. The ex-dividend date is Thursday, February 20th. This is an increase from Park National’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 4.09%.

About Park National

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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