Park National Co. (NYSE:PRK) Shares Sold by Park National Corp OH

Park National Corp OH reduced its holdings in shares of Park National Co. (NYSE:PRK - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,091,364 shares of the company's stock after selling 16,954 shares during the quarter. Park National makes up 6.1% of Park National Corp OH's investment portfolio, making the stock its biggest holding. Park National Corp OH owned about 6.75% of Park National worth $165,233,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PRK. Vanguard Group Inc. boosted its holdings in Park National by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,701,587 shares of the company's stock valued at $291,703,000 after purchasing an additional 6,432 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Park National by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 495,854 shares of the company's stock valued at $85,006,000 after buying an additional 3,911 shares in the last quarter. Northern Trust Corp grew its position in shares of Park National by 4.3% in the 4th quarter. Northern Trust Corp now owns 182,808 shares of the company's stock valued at $31,339,000 after buying an additional 7,505 shares during the last quarter. First Trust Advisors LP grew its position in shares of Park National by 77.5% in the 4th quarter. First Trust Advisors LP now owns 160,715 shares of the company's stock valued at $27,551,000 after buying an additional 70,170 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Park National by 22.8% during the 4th quarter. Invesco Ltd. now owns 107,428 shares of the company's stock worth $18,416,000 after acquiring an additional 19,948 shares in the last quarter. Hedge funds and other institutional investors own 62.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PRK shares. Piper Sandler initiated coverage on shares of Park National in a research report on Thursday, February 20th. They issued a "neutral" rating and a $185.50 price target for the company. Keefe, Bruyette & Woods lifted their price target on Park National from $167.00 to $170.00 and gave the company a "market perform" rating in a research note on Wednesday, April 30th. 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 Price Performance

Shares of PRK traded down $1.41 during mid-day trading on Friday, reaching $162.56. 93,316 shares of the company's stock were exchanged, compared to its average volume of 58,058. 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 52-week low of $131.93 and a 52-week high of $207.99. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 17.46 and a beta of 0.79. The company has a 50-day simple moving average of $154.72 and a two-hundred day simple moving average of $166.66.

Park National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, May 16th. Park National's payout ratio is 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.