Ameriprise Financial Inc. raised its holdings in shares of Park National Co. (NYSEAMERICAN:PRK) by 14.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,187 shares of the financial services provider’s stock after buying an additional 1,155 shares during the period. Ameriprise Financial Inc. owned about 0.06% of Park National worth $993,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its position in shares of Park National by 252.3% during the second quarter. BNP Paribas Arbitrage SA now owns 2,332 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 1,670 shares during the last quarter. Commonwealth Equity Services Inc bought a new position in shares of Park National during the third quarter worth $396,000. Legal & General Group Plc lifted its position in Park National by 1.9% during the second quarter. Legal & General Group Plc now owns 4,953 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 91 shares during the last quarter. Susquehanna International Group LLP bought a new position in Park National during the second quarter valued at $573,000. Finally, PARK CIRCLE Co bought a new position in Park National during the third quarter valued at $649,000.
PRK has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Park National from a “hold” rating to a “strong-buy” rating and set a $122.00 target price on the stock in a research note on Wednesday, December 27th. BidaskClub downgraded shares of Park National from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Park National in a research note on Tuesday, October 24th.
Park National (NYSEAMERICAN:PRK) last posted its earnings results on Monday, October 23rd. The financial services provider reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). Park National had a net margin of 26.44% and a return on equity of 11.73%. The business had revenue of $83.64 million for the quarter, compared to analysts’ expectations of $81.14 million.
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About Park National
Park National Corporation (Park) is a financial holding company. Park’s principal business consists of owning and supervising its subsidiaries. Park’s banking operations are conducted through The Park National Bank (Park National Bank). Its segments include Park National Bank, Guardian Financial Services Company (Guardian Finance) and SE Property Holdings, LLC (SEPH).
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