GAMMA Investing LLC Acquires 67,829 Shares of Park National Co. (NYSE:PRK)

GAMMA Investing LLC lifted its stake in shares of Park National Co. (NYSE:PRK - Free Report) by 45,219.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,979 shares of the company's stock after purchasing an additional 67,829 shares during the quarter. GAMMA Investing LLC owned 0.42% of Park National worth $10,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRK. Barclays PLC grew its holdings 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 last quarter. Principal Financial Group Inc. grew its holdings in Park National by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 70,523 shares of the company's stock worth $12,090,000 after acquiring an additional 2,007 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Park National by 13.6% during the 4th quarter. New York State Common Retirement Fund now owns 5,021 shares of the company's stock worth $861,000 after acquiring an additional 600 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Park National during the 4th quarter worth approximately $389,000. Finally, Matauro LLC bought a new stake in Park National during the 4th quarter worth approximately $2,203,000. 62.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PRK shares. Keefe, Bruyette & Woods boosted 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 report on Wednesday, April 30th. Piper Sandler initiated coverage on shares of Park National in a report on Thursday, February 20th. They set a "neutral" rating and a $185.50 price objective on the stock. Finally, Wall Street Zen downgraded shares of Park National from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Park National Stock Down 1.1%

Shares of NYSE PRK traded down $1.81 during trading on Wednesday, hitting $163.90. The stock had a trading volume of 39,674 shares, compared to its average volume of 58,290. Park National Co. has a 12 month low of $133.38 and a 12 month high of $207.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95. The company has a market capitalization of $2.65 billion, a PE ratio of 17.60 and a beta of 0.82. The firm has a fifty day moving average of $156.15 and a two-hundred day moving average of $164.96.

Park National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.28 annualized dividend and a yield of 2.61%. Park National's payout ratio is currently 43.94%.

About Park National

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.