14,088 Shares in Park National Co. $PRK Bought by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC purchased 14,088 shares of Park National Co., valued at approximately $2.13 million, indicating growing institutional interest in the stock.
• Park National's recent quarterly dividend of $1.07 per share represents an annualized rate of $4.28, resulting in a dividend yield of 2.5%.
• Analysts have a consensus rating of "Hold" for Park National, with a target price of $177.75 following several recent rating changes.

Cubist Systematic Strategies LLC acquired a new stake in shares of Park National Co. (NYSE:PRK - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 14,088 shares of the company's stock, valued at approximately $2,133,000. Cubist Systematic Strategies LLC owned 0.09% of Park National at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Northern Trust Corp boosted its holdings in shares of Park National by 4.3% during the 4th quarter. Northern Trust Corp now owns 182,808 shares of the company's stock valued at $31,339,000 after buying an additional 7,505 shares in the last quarter. Algert Global LLC bought a new position in Park National during the 4th quarter valued at about $251,000. Citadel Advisors LLC lifted its stake in Park National by 58.3% during the 4th quarter. Citadel Advisors LLC now owns 15,041 shares of the company's stock valued at $2,578,000 after acquiring an additional 5,542 shares during the period. CoreCap Advisors LLC lifted its stake in Park National by 801.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,244 shares of the company's stock valued at $213,000 after acquiring an additional 1,106 shares during the period. Finally, Deutsche Bank AG lifted its stake in Park National by 52.1% during the 4th quarter. Deutsche Bank AG now owns 13,106 shares of the company's stock valued at $2,247,000 after acquiring an additional 4,488 shares during the period. 62.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRK. Raymond James Financial began coverage on shares of Park National in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. Wall Street Zen downgraded shares of Park National from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Park National presently has a consensus rating of "Hold" and an average target price of $177.75.

Park National Price Performance

PRK traded down $2.11 during trading on Friday, reaching $169.00. 29,936 shares of the company traded hands, compared to its average volume of 58,416. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. The company has a market cap of $2.72 billion, a P/E ratio of 18.15 and a beta of 0.77. The firm has a fifty day simple moving average of $168.99 and a 200 day simple moving average of $161.65. Park National Co. has a 12-month low of $137.97 and a 12-month high of $207.99.

Park National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, August 15th. Park National's payout ratio is currently 41.59%.

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.