Park National Co. (NYSE:PRK) Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH lessened its holdings in shares of Park National Co. (NYSE:PRK - Free Report) by 40.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,647 shares of the company's stock after selling 4,500 shares during the period. Fort Washington Investment Advisors Inc. OH's holdings in Park National were worth $1,006,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in shares of Park National by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 70,523 shares of the company's stock worth $12,090,000 after purchasing an additional 2,007 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Park National by 13.6% in the 4th quarter. New York State Common Retirement Fund now owns 5,021 shares of the company's stock valued at $861,000 after purchasing an additional 600 shares during the period. Centricity Wealth Management LLC purchased a new position in Park National during the 4th quarter worth approximately $389,000. Matauro LLC acquired a new position in Park National during the fourth quarter worth approximately $2,203,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Park National in the fourth quarter valued at approximately $201,000. Hedge funds and other institutional investors own 62.65% of the company's stock.

Park National Stock Performance

Park National stock traded down $0.55 during mid-day trading on Tuesday, reaching $157.54. 49,756 shares of the company were exchanged, compared to its average volume of 58,516. The firm's 50-day simple moving average is $157.56 and its two-hundred day simple moving average is $163.84. Park National Co. has a twelve month low of $133.50 and a twelve month high of $207.99. The firm has a market cap of $2.55 billion, a PE ratio of 16.92 and a beta of 0.82. 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Friday, May 16th. Park National's dividend payout ratio is presently 43.94%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PRK shares. Piper Sandler began coverage on shares of Park National in a research report on Thursday, February 20th. They set a "neutral" rating and a $185.50 target price on the stock. Keefe, Bruyette & Woods increased 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. Finally, Wall Street Zen lowered shares of Park National from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

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.