First Trust Advisors LP Purchases 16,314 Shares of Park National Co. $PRK

First Trust Advisors LP boosted its position in Park National Co. (NYSE:PRK - Free Report) by 100.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,530 shares of the company's stock after purchasing an additional 16,314 shares during the quarter. First Trust Advisors LP owned about 0.18% of Park National worth $5,317,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRK. Park National Corp OH boosted its position in shares of Park National by 9.8% in the first quarter. Park National Corp OH now owns 1,155,964 shares of the company's stock valued at $188,942,000 after acquiring an additional 103,142 shares during the period. State Street Corp boosted its holdings in Park National by 8.3% in the 2nd quarter. State Street Corp now owns 673,645 shares of the company's stock valued at $112,674,000 after purchasing an additional 51,381 shares during the period. Jane Street Group LLC grew its position in shares of Park National by 3,571.9% during the 1st 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Park National during the fourth quarter worth approximately $3,204,000. Finally, Tudor Investment Corp ET AL raised its position in shares of Park National by 52.6% in the fourth quarter. Tudor Investment Corp ET AL now owns 49,267 shares of the company's stock valued at $7,497,000 after buying an additional 16,982 shares in the last quarter. 62.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Raymond James Financial initiated coverage on Park National in a research note on Tuesday, July 7th. They set a "market perform" rating on the stock. Keefe, Bruyette & Woods increased their target price on Park National from $180.00 to $205.00 and gave the stock a "market perform" rating in a report on Thursday, July 30th. Finally, Piper Sandler raised their price target on Park National from $189.00 to $217.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $211.00.

Park National Price Performance

Shares of PRK stock opened at $207.47 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. Park National Co. has a twelve month low of $149.06 and a twelve month high of $214.10. The company has a market cap of $3.75 billion, a P/E ratio of 22.28 and a beta of 0.69. The business has a fifty day simple moving average of $183.03 and a 200 day simple moving average of $172.71.

Park National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 21st will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. Park National's dividend payout ratio is 39.39%.

Park National Company Profile

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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