Dimensional Fund Advisors LP Purchases 5,859 Shares of Park National Co. $PRK

Key Points

• Dimensional Fund Advisors increased its Park National stake by 1.1% in the first quarter, adding 5,859 shares to own 517,432 shares worth approximately $84.6 million. Institutional investors collectively hold 62.65% of the company.
• Analysts maintain a generally neutral outlook: four analysts rate Park National “Hold,” with a consensus price target of $211, close to its recent $207.15 price.
• Park National declared a quarterly dividend of $1.10 per share, or $4.40 annually, representing a 2.1% yield and a 39.39% payout ratio.

Dimensional Fund Advisors LP boosted its position in Park National Co. (NYSE:PRK - Free Report) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 517,432 shares of the company's stock after purchasing an additional 5,859 shares during the period. Dimensional Fund Advisors LP owned 2.86% of Park National worth $84,570,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in shares of Park National by 59.2% during the first quarter. Royal Bank of Canada now owns 3,085 shares of the company's stock worth $467,000 after purchasing an additional 1,147 shares during the last quarter. AQR Capital Management LLC grew its holdings in Park National by 27.6% during the 1st quarter. AQR Capital Management LLC now owns 4,087 shares of the company's stock worth $619,000 after acquiring an additional 884 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Park National by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,583 shares of the company's stock valued at $1,299,000 after acquiring an additional 384 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Park National by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 31,122 shares of the company's stock valued at $4,712,000 after acquiring an additional 1,293 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Park National by 3,571.9% during the first quarter. Jane Street Group LLC now owns 50,342 shares of the company's stock worth $7,622,000 after purchasing an additional 48,971 shares during the period. 62.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PRK shares. Raymond James Financial initiated coverage on shares of Park National in a research note on Tuesday, July 7th. They issued a "market perform" rating on the stock. Piper Sandler raised their target price on Park National from $189.00 to $217.00 and gave the stock a "neutral" rating in a research report on Wednesday. Zacks Research lowered Park National from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 3rd. Finally, Keefe, Bruyette & Woods increased their price target on Park National from $180.00 to $205.00 and gave the company a "market perform" rating in a research note on Thursday. Four analysts have rated the stock with a Hold rating, According to MarketBeat, Park National has an average rating of "Hold" and a consensus target price of $211.00.

Park National Trading Down 2.5%

NYSE:PRK opened at $207.15 on Friday. Park National Co. has a 52 week low of $149.06 and a 52 week high of $214.10. 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 firm's fifty day moving average is $181.50 and its 200-day moving average is $171.99. The firm has a market cap of $3.75 billion, a P/E ratio of 22.25 and a beta of 0.69.

Park National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 21st will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, August 21st. Park National's dividend payout ratio (DPR) is presently 39.39%.

About Park National

Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company's main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.

Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.

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