Advantage Alpha Capital Partners LP lessened its position in Park National Co. (NYSE:PRK - Free Report) by 60.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,331 shares of the company's stock after selling 2,064 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in Park National were worth $202,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in PRK. Principal Financial Group Inc. increased its holdings in shares of Park National by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 72,418 shares of the company's stock valued at $10,964,000 after purchasing an additional 1,895 shares during the period. GAMMA Investing LLC increased its holdings in shares of Park National by 199.3% in the 1st quarter. GAMMA Investing LLC now owns 449 shares of the company's stock valued at $68,000 after purchasing an additional 299 shares during the period. KBC Group NV increased its holdings in shares of Park National by 11.6% in the 1st quarter. KBC Group NV now owns 878 shares of the company's stock valued at $133,000 after purchasing an additional 91 shares during the period. Kingsview Wealth Management LLC acquired a new position in shares of Park National in the 1st quarter valued at about $250,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Park National in the 1st quarter valued at about $208,000. Hedge funds and other institutional investors own 62.65% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on PRK shares. Keefe, Bruyette & Woods upped their target price on Park National from $167.00 to $170.00 and gave the company a "market perform" rating in a report on Wednesday, April 30th. Raymond James Financial initiated coverage on Park National in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Finally, Wall Street Zen cut Park National from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $177.75.
Get Our Latest Research Report on Park National
Park National Stock Performance
PRK stock traded up $1.03 during midday trading on Wednesday, hitting $174.76. The stock had a trading volume of 37,490 shares, compared to its average volume of 59,641. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 18.77 and a beta of 0.76. Park National Co. has a 52 week low of $137.97 and a 52 week high of $207.99. The stock has a 50-day simple moving average of $167.93 and a 200 day simple moving average of $161.24. 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 Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 15th. Park National's dividend payout ratio (DPR) is 41.59%.
About Park National
(
Free Report)
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.
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