Windsor Advisory Group LLC Takes Position in Park National Co. $PRK

Windsor Advisory Group LLC bought a new stake in shares of Park National Co. (NYSE:PRK) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 3,765 shares of the company’s stock, valued at approximately $689,000. Park National accounts for 0.5% of Windsor Advisory Group LLC’s portfolio, making the stock its 27th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new position in Park National during the second quarter valued at approximately $473,814,000. Park National Corp OH grew its holdings in Park National by 9.8% during the first quarter. Park National Corp OH now owns 1,155,964 shares of the company’s stock valued at $188,942,000 after purchasing an additional 103,142 shares during the last quarter. State Street Corp raised its position in shares of Park National by 8.3% in the second quarter. State Street Corp now owns 673,645 shares of the company’s stock valued at $112,674,000 after purchasing an additional 51,381 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Park National by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 517,432 shares of the company’s stock valued at $84,570,000 after purchasing an additional 5,859 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Park National in the second quarter worth about $23,652,000. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

Park National Stock Performance

Park National stock opened at $199.54 on Thursday. The stock has a 50-day simple moving average of $193.46 and a 200 day simple moving average of $177.45. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 21.43 and a beta of 0.69. 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 Co. has a 12-month low of $149.06 and a 12-month high of $215.00.

Park National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 21st will be paid a $1.10 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. Park National’s payout ratio is currently 39.39%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler increased their target price on shares of Park National from $189.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Raymond James Financial initiated coverage on shares of Park National in a research note on Tuesday, July 7th. They set a “market perform” rating for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on Park National from $180.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $211.00.

About Park National

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.