Jefferies Financial Group Inc. Acquires Shares of 9,000 Park National Co. (NYSE:PRK)

Jefferies Financial Group Inc. bought a new stake in shares of Park National Co. (NYSE:PRK) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,000 shares of the company’s stock, valued at approximately $1,363,000. Jefferies Financial Group Inc. owned approximately 0.06% of Park National at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Park National by 199.3% in the 1st quarter. GAMMA Investing LLC now owns 449 shares of the company’s stock worth $68,000 after purchasing an additional 299 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Park National by 808.0% in the 4th quarter. Sterling Capital Management LLC now owns 454 shares of the company’s stock worth $78,000 after purchasing an additional 404 shares in the last quarter. KBC Group NV boosted its stake in Park National by 11.6% in the 1st quarter. KBC Group NV now owns 878 shares of the company’s stock worth $133,000 after purchasing an additional 91 shares in the last quarter. CoreCap Advisors LLC boosted its stake in Park National by 801.4% in the 4th quarter. CoreCap Advisors LLC now owns 1,244 shares of the company’s stock worth $213,000 after purchasing an additional 1,106 shares in the last quarter. Finally, Aquatic Capital Management LLC boosted its stake in Park National by 63.6% in the 4th quarter. Aquatic Capital Management LLC now owns 1,309 shares of the company’s stock worth $224,000 after purchasing an additional 509 shares in the last quarter. Institutional investors own 62.65% of the company’s stock.

Park National Price Performance

NYSE PRK opened at $160.03 on Tuesday. Park National Co. has a 52 week low of $137.97 and a 52 week high of $207.99. The firm has a market capitalization of $2.59 billion, a P/E ratio of 17.19 and a beta of 0.76. The company has a 50-day moving average price of $166.47 and a 200-day moving average price of $161.59. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15.

Park National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.28 annualized dividend and a yield of 2.7%. Park National’s dividend payout ratio is currently 41.59%.

Analyst Ratings Changes

PRK has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Park National from $167.00 to $170.00 and gave the company a “market perform” rating in a research note on Wednesday, April 30th. Raymond James Financial initiated coverage on shares of Park National in a research note on Monday, July 21st. They set a “market perform” rating on the stock. Finally, Wall Street Zen cut shares of Park National from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st.

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 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.