Matauro LLC Reduces Stock Holdings in Park National Co. (NYSE:PRK)

Matauro LLC reduced its holdings in shares of Park National Co. (NYSE:PRK - Free Report) by 47.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,799 shares of the company's stock after selling 6,050 shares during the period. Matauro LLC's holdings in Park National were worth $1,029,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings in Park National by 162.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 181 shares of the company's stock worth $31,000 after buying an additional 112 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Park National by 199.3% in the first quarter. GAMMA Investing LLC now owns 449 shares of the company's stock worth $68,000 after acquiring an additional 299 shares during the period. Sterling Capital Management LLC grew its stake in shares of Park National by 808.0% in the fourth quarter. Sterling Capital Management LLC now owns 454 shares of the company's stock worth $78,000 after acquiring an additional 404 shares during the period. Signaturefd LLC raised its position in shares of Park National by 9.7% during the 4th quarter. Signaturefd LLC now owns 692 shares of the company's stock valued at $119,000 after purchasing an additional 61 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Park National during the 4th quarter valued at $201,000. 62.65% of the stock is owned by hedge funds and other institutional investors.

Park National Stock Down 3.3%

Shares of NYSE:PRK traded down $5.44 during trading hours on Friday, hitting $157.43. The company's stock had a trading volume of 43,480 shares, compared to its average volume of 58,374. Park National Co. has a 52 week low of $133.38 and a 52 week 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 $2.55 billion, a price-to-earnings ratio of 16.91 and a beta of 0.82. The firm's fifty day moving average price is $157.26 and its 200 day moving average price is $164.46.

Park National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were paid a dividend of $1.07 per share. The ex-dividend date was Friday, May 16th. This represents a $4.28 annualized dividend and a dividend yield of 2.72%. Park National's dividend payout ratio (DPR) is presently 43.94%.

Analyst Upgrades and Downgrades

PRK has been the subject of several research analyst reports. Piper Sandler initiated coverage on shares of Park National in a research note on Thursday, February 20th. They set a "neutral" rating and a $185.50 target price for the company. Wall Street Zen cut shares of Park National from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Park National from $167.00 to $170.00 and gave the company a "market perform" rating in a research report on Wednesday, April 30th.

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.