Park National Co. $PRK Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in Park National Co. (NYSE:PRK) by 332.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,953 shares of the company’s stock after buying an additional 5,347 shares during the period. Hsbc Holdings PLC’s holdings in Park National were worth $1,068,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Park National by 629.2% during the second quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock valued at $29,000 after acquiring an additional 151 shares during the last quarter. Danske Bank A S lifted its holdings in shares of Park National by 100.0% in the 4th quarter. Danske Bank A S now owns 200 shares of the company’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Quarry LP boosted its position in shares of Park National by 878.3% during the 3rd quarter. Quarry LP now owns 225 shares of the company’s stock worth $37,000 after purchasing an additional 202 shares during the period. Sarver Vrooman Wealth Advisors purchased a new position in shares of Park National during the 4th quarter worth approximately $46,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in Park National in the 4th quarter valued at approximately $76,000. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Price Performance

Shares of PRK opened at $185.75 on Tuesday. The company has a market cap of $3.36 billion, a P/E ratio of 19.95 and a beta of 0.69. Park National Co. has a fifty-two week low of $149.06 and a fifty-two week high of $188.04. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average price is $175.59 and its 200 day moving average price is $168.62.

Park National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, May 15th. Park National’s payout ratio is presently 40.33%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PRK shares. Zacks Research lowered Park National from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Piper Sandler raised their price target on Park National from $188.00 to $189.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Finally, Raymond James Financial started coverage on Park National in a research note on Tuesday, July 7th. They issued a “market perform” rating for the company. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $184.50.

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.