Deutsche Bank AG Increases Stock Holdings in Park National Co. (NYSE:PRK)

Deutsche Bank AG increased its stake in Park National Co. (NYSE:PRK - Free Report) by 52.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,106 shares of the company's stock after buying an additional 4,488 shares during the quarter. Deutsche Bank AG owned about 0.08% of Park National worth $2,247,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Colonial Trust Co SC bought a new stake in shares of Park National during the fourth quarter worth $2,018,000. CoreCap Advisors LLC lifted its position in shares of Park National by 801.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,244 shares of the company's stock worth $213,000 after purchasing an additional 1,106 shares during the last quarter. Citadel Advisors LLC lifted its position in shares of Park National by 58.3% during the fourth quarter. Citadel Advisors LLC now owns 15,041 shares of the company's stock worth $2,578,000 after purchasing an additional 5,542 shares during the last quarter. Algert Global LLC bought a new stake in shares of Park National during the fourth quarter worth $251,000. Finally, Gallagher Fiduciary Advisors LLC lifted its position in shares of Park National by 18.2% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 3,983 shares of the company's stock worth $683,000 after purchasing an additional 613 shares during the last quarter. 62.65% of the stock is currently owned by institutional investors.

Park National Stock Performance

NYSE PRK traded down $0.44 during trading hours on Monday, reaching $162.13. The stock had a trading volume of 34,621 shares, compared to its average volume of 57,957. The stock has a fifty day moving average of $153.86 and a 200 day moving average of $167.37. The stock has a market cap of $2.63 billion, a P/E ratio of 17.41 and a beta of 0.79. Park National Co. has a 52-week low of $131.93 and a 52-week high of $207.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94.

Park National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders 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 2.64%. The ex-dividend date is Friday, May 16th. Park National's payout ratio is 43.94%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PRK shares. Wall Street Zen downgraded Park National from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Piper Sandler assumed coverage on Park National in a report on Thursday, February 20th. They issued a "neutral" rating and a $185.50 price objective for the company. Finally, Keefe, Bruyette & Woods boosted 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.

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.