J.W. Cole Advisors Inc. Has $2.42 Million Holdings in Park National Co. (NYSE:PRK)

J.W. Cole Advisors Inc. increased its stake in Park National Co. (NYSE:PRK - Free Report) by 149.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,986 shares of the company's stock after purchasing an additional 9,566 shares during the period. J.W. Cole Advisors Inc. owned 0.10% of Park National worth $2,420,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Kingsview Wealth Management LLC bought a new position in Park National in the 1st quarter worth approximately $250,000. Alps Advisors Inc. bought a new stake in shares of Park National during the 1st quarter valued at $357,000. Principal Financial Group Inc. raised its position in shares of Park National by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 72,418 shares of the company's stock valued at $10,964,000 after acquiring an additional 1,895 shares during the last quarter. KBC Group NV raised its position in shares of Park National by 11.6% during the 1st quarter. KBC Group NV now owns 878 shares of the company's stock valued at $133,000 after acquiring an additional 91 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in shares of Park National by 3.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 8,004 shares of the company's stock valued at $1,212,000 after acquiring an additional 245 shares during the last quarter. Institutional investors own 62.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities 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 company a "market perform" rating in a report on Wednesday, April 30th. Wall Street Zen downgraded shares of Park National from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Raymond James Financial started coverage on shares of Park National in a research report on Monday. They set a "market perform" rating for the company.

Park National Stock Up 0.4%

NYSE PRK opened at $171.32 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Park National Co. has a 1-year low of $137.97 and a 1-year high of $207.99. The company has a 50 day moving average of $166.85 and a 200-day moving average of $161.90. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 18.40 and a beta of 0.82.

Park National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a dividend of $1.07 per share. The ex-dividend date was Friday, May 16th. This represents a $4.28 annualized dividend and a yield of 2.50%. Park National's dividend payout ratio is currently 43.94%.

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.

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