Ameriprise Financial Inc. Has $6.84 Million Stake in Park National Co. (NYSE:PRK)

Ameriprise Financial Inc. lessened its stake in Park National Co. (NYSE:PRK - Free Report) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,870 shares of the company's stock after selling 2,671 shares during the quarter. Ameriprise Financial Inc. owned 0.25% of Park National worth $6,835,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. First Trust Advisors LP increased its holdings in Park National by 77.5% during the 4th 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 in the last quarter. JPMorgan Chase & Co. increased its holdings in Park National by 427.9% during 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 position in Park National during the 4th quarter worth about $3,673,000. Invesco Ltd. increased its holdings in Park National by 22.8% during the 4th quarter. Invesco Ltd. now owns 107,428 shares of the company's stock worth $18,416,000 after purchasing an additional 19,948 shares in the last quarter. Finally, Barclays PLC increased its holdings in Park National by 161.7% during the 3rd quarter. Barclays PLC now owns 28,528 shares of the company's stock worth $4,792,000 after purchasing an additional 17,627 shares in the last quarter. Institutional investors own 62.65% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Piper Sandler assumed coverage on Park National in a report on Thursday, February 20th. They set a "neutral" rating and a $185.50 target price for the company. Wall Street Zen cut Park National from a "hold" rating to a "sell" rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Park National from $167.00 to $170.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 30th.

Park National Stock Down 0.3%

Shares of NYSE:PRK traded down $0.44 during trading on Friday, hitting $162.13. 34,621 shares of the company were exchanged, compared to its average volume of 57,957. Park National Co. has a fifty-two week low of $131.93 and a fifty-two week high of $207.99. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 17.41 and a beta of 0.79. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $153.86 and a two-hundred day moving average price of $167.54.

Park National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid 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 2.64%. Park National's dividend payout ratio is presently 43.94%.

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.