Park National Corp OH Boosts Stock Holdings in Park National Co. $PRK

Park National Corp OH grew its holdings in shares of Park National Co. (NYSE:PRK) by 9.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,155,964 shares of the company’s stock after acquiring an additional 103,142 shares during the quarter. Park National makes up 5.8% of Park National Corp OH’s holdings, making the stock its biggest holding. Park National Corp OH owned approximately 0.06% of Park National worth $188,942,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its holdings in Park National by 8.3% during the 2nd quarter. State Street Corp now owns 673,645 shares of the company’s stock valued at $112,674,000 after buying an additional 51,381 shares during the period. Jane Street Group LLC lifted its position in Park National by 3,571.9% in the first quarter. Jane Street Group LLC now owns 50,342 shares of the company’s stock worth $7,622,000 after buying an additional 48,971 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Park National during the fourth quarter worth $3,204,000. Tudor Investment Corp ET AL boosted its stake in Park National by 52.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 49,267 shares of the company’s stock worth $7,497,000 after buying an additional 16,982 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Park National by 58.4% during the second quarter. JPMorgan Chase & Co. now owns 43,987 shares of the company’s stock valued at $7,357,000 after acquiring an additional 16,211 shares during the last quarter. Institutional investors own 62.65% of the company’s stock.

Park National Price Performance

PRK opened at $176.62 on Friday. Park National Co. has a 12-month low of $149.06 and a 12-month high of $182.34. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $172.22 and its 200-day simple moving average is $166.05. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 18.97 and a beta of 0.70.

Park National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $1.10 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.40 dividend on an annualized basis and a yield of 2.5%. Park National’s dividend payout ratio is 40.33%.

Analysts Set New Price Targets

PRK has been the subject of a number of recent analyst reports. Zacks Research cut shares of Park National from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Piper Sandler increased their price objective on shares of Park National from $183.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $184.00.

Park National Company Profile

Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company’s main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.

Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.