Park National Co. (NYSE:PRK) Stake Raised by Deutsche Bank AG

Deutsche Bank AG boosted its position in shares of Park National Co. (NYSE:PRK - Free Report) by 52.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,106 shares of the company's stock after purchasing an additional 4,488 shares during the period. Deutsche Bank AG owned approximately 0.08% of Park National worth $2,247,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Park National by 0.4% during the 4th 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 stake in Park National by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 495,854 shares of the company's stock valued at $85,006,000 after acquiring an additional 3,911 shares during the last quarter. Northern Trust Corp grew its stake in Park National by 4.3% in the fourth quarter. Northern Trust Corp now owns 182,808 shares of the company's stock worth $31,339,000 after purchasing an additional 7,505 shares in the last quarter. First Trust Advisors LP increased its holdings in Park National by 77.5% in the fourth 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 fourth quarter. Invesco Ltd. now owns 107,428 shares of the company's stock valued at $18,416,000 after buying an additional 19,948 shares in the last quarter. 62.65% of the stock is owned by institutional investors and hedge funds.

Park National Stock Performance

PRK stock traded down $0.44 during mid-day trading on Friday, reaching $162.13. The company had a trading volume of 34,621 shares, compared to its average volume of 57,957. Park National Co. has a one year low of $131.93 and a one year high of $207.99. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.63 billion, a P/E ratio of 17.41 and a beta of 0.79. The stock's 50-day simple moving average is $153.86 and its two-hundred day simple moving average is $167.54.

Park National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, May 16th. Park National's dividend payout ratio (DPR) is 43.94%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen downgraded Park National from a "hold" rating to a "sell" rating in a report on Wednesday. Keefe, Bruyette & Woods increased their target price on shares of Park National from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Wednesday, April 30th. Finally, 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 target price on the stock.

Park National Company 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.