Citadel Advisors LLC Acquires 5,542 Shares of Park National Co. (NYSE:PRK)

Citadel Advisors LLC grew its holdings in Park National Co. (NYSE:PRK - Free Report) by 58.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,041 shares of the company's stock after acquiring an additional 5,542 shares during the period. Citadel Advisors LLC owned 0.09% of Park National worth $2,578,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in shares of Park National by 427.9% during the 4th quarter. JPMorgan Chase & Co. now owns 64,482 shares of the company's stock valued at $11,054,000 after purchasing an additional 52,268 shares during the period. Barclays PLC raised its position in shares of Park National by 161.7% during the 3rd 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 during the period. Franklin Resources Inc. bought a new stake in shares of Park National during the 3rd quarter valued at $591,000. Geneos Wealth Management Inc. bought a new stake in shares of Park National during the 4th quarter valued at $259,000. Finally, Janney Montgomery Scott LLC raised its position in shares of Park National by 236.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,124 shares of the company's stock valued at $878,000 after purchasing an additional 3,599 shares during the period. 62.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PRK has been the topic of several recent analyst reports. StockNews.com downgraded shares of Park National from a "hold" rating to a "sell" rating in a research report on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of Park National from $167.00 to $170.00 and gave the company a "market perform" rating in a research note on Wednesday, April 30th. Finally, Piper Sandler initiated coverage on shares of Park National in a research note on Thursday, February 20th. They set a "neutral" rating and a $185.50 target price for the company.

Park National Stock Performance

PRK opened at $162.74 on Thursday. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 17.48 and a beta of 0.79. The company has a fifty day moving average of $153.55 and a 200 day moving average of $167.96. Park National Co. has a fifty-two week low of $131.93 and a fifty-two week high of $207.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94.

Park National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $1.07 per share. The ex-dividend date is Friday, May 16th. This represents a $4.28 annualized dividend and a yield of 2.63%. Park National's payout ratio is 43.94%.

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.

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