Park National Co. $PRK Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its holdings in shares of Park National Co. (NYSE:PRK) by 27.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,320 shares of the company’s stock after selling 2,387 shares during the period. Intech Investment Management LLC’s holdings in Park National were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Livelsberger Financial Advisory acquired a new stake in shares of Park National in the 2nd quarter valued at approximately $27,000. CWM LLC grew its holdings in Park National by 66.4% during the second quarter. CWM LLC now owns 223 shares of the company’s stock worth $37,000 after acquiring an additional 89 shares during the period. GAMMA Investing LLC raised its position in Park National by 18.7% in the second quarter. GAMMA Investing LLC now owns 533 shares of the company’s stock worth $89,000 after acquiring an additional 84 shares in the last quarter. AlphaQuest LLC purchased a new position in Park National in the first quarter worth $93,000. Finally, Stephens Consulting LLC lifted its holdings in Park National by 22,760.0% in the second quarter. Stephens Consulting LLC now owns 1,143 shares of the company’s stock valued at $191,000 after acquiring an additional 1,138 shares during the period. 62.65% of the stock is owned by institutional investors and hedge funds.

Park National Price Performance

Park National stock opened at $154.89 on Tuesday. The firm has a market capitalization of $2.49 billion, a PE ratio of 16.64 and a beta of 0.76. Park National Co. has a 52 week low of $137.97 and a 52 week high of $207.99. The firm’s 50-day simple moving average is $158.53 and its 200 day simple moving average is $164.12. 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 Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PRK shares. Zacks Research cut shares of Park National from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Piper Sandler decreased their price objective on shares of Park National from $185.00 to $176.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Park National from $175.00 to $180.00 and gave the company a “market perform” rating in a report on Wednesday, October 29th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Park National presently has a consensus rating of “Hold” and an average price target of $178.00.

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.