BNP Paribas Financial Markets Sells 2,115 Shares of Park National Co. (NYSE:PRK)

BNP Paribas Financial Markets cut its stake in Park National Co. (NYSE:PRK - Free Report) by 52.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,947 shares of the company's stock after selling 2,115 shares during the quarter. BNP Paribas Financial Markets' holdings in Park National were worth $334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PRK. Barclays PLC increased its stake 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. Nisa Investment Advisors LLC increased its stake in Park National by 17.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,009 shares of the company's stock worth $344,000 after purchasing an additional 300 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Park National by 236.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,124 shares of the company's stock worth $878,000 after purchasing an additional 3,599 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Park National during the 4th quarter worth approximately $259,000. Finally, KBC Group NV increased its stake in Park National by 55.8% during the 4th quarter. KBC Group NV now owns 787 shares of the company's stock worth $135,000 after purchasing an additional 282 shares in the last quarter. 62.65% of the stock is owned by institutional investors.

Park National Stock Up 0.8%

Shares of NYSE:PRK traded up $1.35 during midday trading on Thursday, hitting $163.97. The stock had a trading volume of 35,353 shares, compared to its average volume of 57,829. Park National Co. has a 12 month low of $131.93 and a 12 month high of $207.99. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The business's 50-day simple moving average is $154.41 and its 200-day simple moving average is $167.12. The company has a market cap of $2.65 billion, a P/E ratio of 17.61 and a beta of 0.79.

Park National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, May 16th. This represents a $4.28 dividend on an annualized basis and a yield of 2.61%. Park National's dividend payout ratio (DPR) is 43.94%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PRK shares. Keefe, Bruyette & Woods raised their price target 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. Wall Street Zen cut shares of Park National from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Piper Sandler started coverage on shares of Park National in a research note on Thursday, February 20th. They set a "neutral" rating and a $185.50 price target for the company.

Park National 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.