Teacher Retirement System of Texas Purchases 658 Shares of Park National Co. $PRK

Teacher Retirement System of Texas boosted its position in Park National Co. (NYSE:PRK) by 15.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,042 shares of the company’s stock after purchasing an additional 658 shares during the period. Teacher Retirement System of Texas’ holdings in Park National were worth $843,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new position in shares of Park National during the 2nd quarter worth approximately $27,000. CWM LLC increased its position in shares of Park National by 66.4% during the second quarter. CWM LLC now owns 223 shares of the company’s stock valued at $37,000 after acquiring an additional 89 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Park National by 18.7% during the second quarter. GAMMA Investing LLC now owns 533 shares of the company’s stock valued at $89,000 after acquiring an additional 84 shares during the last quarter. AlphaQuest LLC bought a new stake in Park National during the first quarter worth $93,000. Finally, Stephens Consulting LLC boosted its position in Park National by 22,760.0% in the second quarter. Stephens Consulting LLC now owns 1,143 shares of the company’s stock worth $191,000 after purchasing an additional 1,138 shares during the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PRK has been the subject of several research analyst reports. Zacks Research lowered Park National from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Piper Sandler reduced their price target on shares of Park National from $185.00 to $176.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. Keefe, Bruyette & Woods raised their price objective on shares of Park National from $175.00 to $180.00 and gave the stock a “market perform” rating in a report on Wednesday, October 29th. Finally, Raymond James Financial assumed coverage on shares of Park National in a research report on Monday, July 21st. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $178.00.

Park National Stock Up 1.4%

PRK stock opened at $156.22 on Friday. The stock has a fifty day moving average of $162.12 and a 200-day moving average of $163.93. Park National Co. has a fifty-two week low of $137.97 and a fifty-two week high of $207.99. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 16.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94.

Park National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be paid a $1.25 dividend. The ex-dividend date is Friday, November 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.2%. Park National’s dividend payout ratio (DPR) is presently 39.41%.

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.