ExodusPoint Capital Management LP Makes New $1.03 Million Investment in Park National Co. (NYSE:PRK)

ExodusPoint Capital Management LP bought a new position in shares of Park National Co. (NYSE:PRK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,006 shares of the company's stock, valued at approximately $1,030,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRK. JPMorgan Chase & Co. increased its holdings in shares of Park National by 427.9% in the fourth quarter. JPMorgan Chase & Co. now owns 64,482 shares of the company's stock valued at $11,054,000 after buying an additional 52,268 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Park National in the 4th quarter worth approximately $3,673,000. Barclays PLC lifted its holdings in shares of Park National by 161.7% in the third quarter. Barclays PLC now owns 28,528 shares of the company's stock valued at $4,792,000 after purchasing an additional 17,627 shares in the last quarter. Matauro LLC purchased a new position in shares of Park National during the fourth quarter valued at $2,203,000. Finally, FMR LLC lifted its stake in Park National by 729.6% in the 3rd quarter. FMR LLC now owns 7,815 shares of the company's stock worth $1,313,000 after acquiring an additional 6,873 shares in the last quarter. 62.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $178.00 target price (down previously from $187.00) on shares of Park National in a report on Wednesday, January 29th. Piper Sandler assumed coverage on shares of 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 Stock Performance

Shares of NYSE PRK traded down $1.12 during trading hours on Wednesday, hitting $143.61. 3,901 shares of the stock were exchanged, compared to its average volume of 56,048. The firm has a market capitalization of $2.32 billion, a P/E ratio of 15.42 and a beta of 0.72. Park National Co. has a one year low of $123.31 and a one year high of $207.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95. The company's 50 day moving average is $156.71 and its 200 day moving average is $170.25.

Park National Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.07 per share. This is an increase from Park National's previous quarterly dividend of $1.06. The ex-dividend date was Friday, February 14th. This represents a $4.28 annualized dividend and a yield of 2.98%. Park National's dividend payout ratio is presently 45.97%.

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.