Colonial Trust Co SC Purchases New Holdings in Park National Co. (NYSE:PRK)

Colonial Trust Co SC purchased a new stake in Park National Co. (NYSE:PRK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,774 shares of the company's stock, valued at approximately $2,018,000. Colonial Trust Co SC owned approximately 0.07% of Park National as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in Park National by 162.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 181 shares of the company's stock valued at $31,000 after purchasing an additional 112 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Park National by 808.0% in the fourth quarter. Sterling Capital Management LLC now owns 454 shares of the company's stock valued at $78,000 after buying an additional 404 shares in the last quarter. Signaturefd LLC lifted its position in Park National by 9.7% during the 4th quarter. Signaturefd LLC now owns 692 shares of the company's stock worth $119,000 after buying an additional 61 shares in the last quarter. KBC Group NV grew its holdings in Park National by 55.8% during the 4th quarter. KBC Group NV now owns 787 shares of the company's stock worth $135,000 after acquiring an additional 282 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Park National in the 4th quarter valued at about $201,000. Institutional investors own 62.65% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRK. Keefe, Bruyette & Woods increased their price target on shares of Park National from $167.00 to $170.00 and gave the company a "market perform" rating in a research note on Wednesday, April 30th. Piper Sandler started coverage on Park National in a research note on Thursday, February 20th. They issued a "neutral" rating and a $185.50 target price for the company.

Park National Trading Up 1.1 %

PRK stock traded up $1.79 during midday trading on Friday, reaching $162.89. The company's stock had a trading volume of 43,709 shares, compared to its average volume of 57,405. The business's 50-day simple moving average is $151.43 and its 200-day simple moving average is $168.20. 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 52 week low of $131.93 and a 52 week high of $207.99. The stock has a market cap of $2.63 billion, a PE ratio of 17.50 and a beta of 0.79.

Park National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, May 16th. This represents a $4.28 annualized dividend and a dividend yield of 2.63%. Park National's payout ratio is currently 43.94%.

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.