Voloridge Investment Management LLC Increases Holdings in Park National Co. (NYSE:PRK)

Voloridge Investment Management LLC lifted its position in shares of Park National Co. (NYSE:PRK - Free Report) by 46.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,336 shares of the company's stock after purchasing an additional 2,011 shares during the period. Voloridge Investment Management LLC's holdings in Park National were worth $1,086,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PRK. Barclays PLC increased its position in shares of Park National by 161.7% during the third quarter. Barclays PLC now owns 28,528 shares of the company's stock worth $4,792,000 after purchasing an additional 17,627 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Park National by 17.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,009 shares of the company's stock worth $344,000 after acquiring an additional 300 shares during the period. Janney Montgomery Scott LLC lifted its position in Park National by 236.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,124 shares of the company's stock worth $878,000 after acquiring an additional 3,599 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Park National in the 4th quarter valued at approximately $259,000. Finally, KBC Group NV increased its holdings in shares of Park National by 55.8% in the fourth quarter. KBC Group NV now owns 787 shares of the company's stock valued at $135,000 after purchasing an additional 282 shares during the period. Institutional investors and hedge funds own 62.65% of the company's stock.

Analyst Upgrades and Downgrades

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

Park National Price Performance

PRK stock traded down $1.41 on Friday, reaching $162.56. 93,316 shares of the company's stock were exchanged, compared to its average volume of 58,058. The stock has a fifty day moving average of $154.56 and a 200-day moving average of $166.89. The firm has a market cap of $2.63 billion, a PE ratio of 17.46 and a beta of 0.79. 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 twelve month low of $131.93 and a twelve month high of $207.99.

Park National Dividend Announcement

The company also recently declared 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 2.63%. The ex-dividend date is Friday, May 16th. Park National's dividend payout ratio (DPR) 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.