Dimensional Fund Advisors LP Acquires 3,911 Shares of Park National Co. (NYSE:PRK)

Dimensional Fund Advisors LP lifted its holdings in Park National Co. (NYSE:PRK - Free Report) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 495,854 shares of the company's stock after buying an additional 3,911 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.07% of Park National worth $85,006,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. First Trust Advisors LP grew its holdings in Park National by 77.5% in the fourth quarter. First Trust Advisors LP now owns 160,715 shares of the company's stock worth $27,551,000 after purchasing an additional 70,170 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Park National by 427.9% in the 4th quarter. JPMorgan Chase & Co. now owns 64,482 shares of the company's stock worth $11,054,000 after purchasing an additional 52,268 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Park National in the 4th quarter worth approximately $3,673,000. Invesco Ltd. grew its stake in shares of Park National by 22.8% in the 4th quarter. Invesco Ltd. now owns 107,428 shares of the company's stock worth $18,416,000 after buying an additional 19,948 shares during the last quarter. Finally, Barclays PLC increased its position in Park National by 161.7% during the 3rd quarter. Barclays PLC now owns 28,528 shares of the company's stock valued at $4,792,000 after buying an additional 17,627 shares in the last quarter. 62.65% of the stock is currently owned by institutional investors.

Park National Stock Down 0.9 %

PRK stock traded down $1.51 during midday trading on Monday, hitting $158.87. The company's stock had a trading volume of 2,521 shares, compared to its average volume of 57,139. The firm's 50-day moving average is $151.79 and its 200-day moving average is $168.54. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Park National Co. has a 12 month low of $131.93 and a 12 month high of $207.99. The company has a market cap of $2.57 billion, a PE ratio of 17.08 and a beta of 0.72.

Park National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $4.28 annualized dividend and a dividend yield of 2.69%. Park National's dividend payout ratio (DPR) is presently 43.94%.

Wall Street Analysts Forecast Growth

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

About Park National

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.