2,028 Shares in Park National Co. (NYSE:PRK) Purchased by Entropy Technologies LP

Key Points

• Entropy Technologies LP has acquired 2,028 shares of Park National Co. valued at approximately $307,000, marking a significant new investment in the firm.
• Park National's stock recently experienced a decline of 2.3%, closing at $165.98 with a market cap of $2.67 billion.
• The company announced a quarterly dividend of $1.07 per share, with an annualized yield of 2.6%, reflecting its ongoing commitment to returning value to shareholders.

Entropy Technologies LP purchased a new stake in shares of Park National Co. (NYSE:PRK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,028 shares of the company's stock, valued at approximately $307,000.

Several other large investors have also recently modified their holdings of PRK. Principal Financial Group Inc. raised its stake in Park National by 2.7% during the first quarter. Principal Financial Group Inc. now owns 72,418 shares of the company's stock worth $10,964,000 after buying an additional 1,895 shares during the last quarter. GAMMA Investing LLC raised its stake in Park National by 199.3% during the first quarter. GAMMA Investing LLC now owns 449 shares of the company's stock worth $68,000 after buying an additional 299 shares during the last quarter. KBC Group NV raised its stake in Park National by 11.6% during the first quarter. KBC Group NV now owns 878 shares of the company's stock worth $133,000 after buying an additional 91 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in Park National during the first quarter worth $250,000. Finally, Deutsche Bank AG raised its stake in Park National by 52.1% during the fourth quarter. Deutsche Bank AG now owns 13,106 shares of the company's stock worth $2,247,000 after buying an additional 4,488 shares during the last quarter. Institutional investors own 62.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wall Street Zen cut shares of Park National from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. 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 report on Wednesday, April 30th. Finally, Raymond James Financial assumed coverage on shares of Park National in a report on Monday, July 21st. They issued a "market perform" rating for the company.

Park National Stock Down 2.3%

NYSE:PRK traded down $3.93 during trading hours on Friday, reaching $165.98. The company had a trading volume of 51,060 shares, compared to its average volume of 60,445. 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 firm has a market cap of $2.67 billion, a price-to-earnings ratio of 17.83 and a beta of 0.76. The business's 50-day simple moving average is $166.79 and its two-hundred day simple moving average is $161.28. Park National Co. has a twelve month low of $137.97 and a twelve month high of $207.99.

Park National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, August 15th. Park National's dividend payout ratio (DPR) is currently 41.59%.

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.