Jane Street Group LLC Sells 18,854 Shares of Park National Co. (NYSE:PRK)

Jane Street Group LLC cut its stake in shares of Park National Co. (NYSE:PRK - Free Report) by 93.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,371 shares of the company's stock after selling 18,854 shares during the quarter. Jane Street Group LLC's holdings in Park National were worth $235,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its stake in shares of Park National by 9.7% in the 4th quarter. Signaturefd LLC now owns 692 shares of the company's stock worth $119,000 after acquiring an additional 61 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of Park National by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,507 shares of the company's stock worth $258,000 after buying an additional 82 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Park National by 162.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 181 shares of the company's stock valued at $31,000 after purchasing an additional 112 shares during the period. Bank of Montreal Can boosted its position in shares of Park National by 5.6% during the 4th quarter. Bank of Montreal Can now owns 2,437 shares of the company's stock valued at $418,000 after acquiring an additional 130 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Park National by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 3,606 shares of the company's stock valued at $618,000 after purchasing an additional 180 shares in the last quarter. 62.65% of the stock is currently owned by institutional investors.

Park National Trading Up 2.1%

Shares of NYSE PRK traded up $3.28 during midday trading on Friday, reaching $162.72. 35,080 shares of the stock were exchanged, compared to its average volume of 58,156. Park National Co. has a 12 month low of $131.93 and a 12 month 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 $2.63 billion, a price-to-earnings ratio of 17.48 and a beta of 0.82. The business has a 50-day simple moving average of $155.29 and a two-hundred day simple moving average of $165.78.

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 given a $1.07 dividend. The ex-dividend date is Friday, May 16th. This represents a $4.28 annualized dividend and a dividend yield of 2.63%. Park National's dividend payout ratio is presently 43.94%.

Analyst Ratings Changes

Several research firms recently issued reports on PRK. Piper Sandler assumed coverage on Park National in a report on Thursday, February 20th. They issued a "neutral" rating and a $185.50 price target on the stock. Wall Street Zen cut Park National from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods upped their price objective on Park National from $167.00 to $170.00 and gave the company 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.