Park National Co. $PRK Shares Bought by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp increased its stake in Park National by 51.2% in Q3 to 32,285 shares (about $5.25M), and institutional/hedge funds now own roughly 62.65% of the company.
• Wall Street consensus is a Hold (four analysts) with a consensus target price of $181.50; Piper Sandler raised its target to $183 while Zacks recently cut its rating to Hold.
• Park National pays a quarterly dividend of $1.10 (annualized $4.40), implying a yield of 2.6% and a dividend payout ratio of about 39.6%.

Tudor Investment Corp ET AL grew its position in shares of Park National Co. (NYSE:PRK - Free Report) by 51.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 32,285 shares of the company's stock after purchasing an additional 10,935 shares during the quarter. Tudor Investment Corp ET AL owned 0.20% of Park National worth $5,247,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Caldwell Trust Co acquired a new position in shares of Park National during the 2nd quarter valued at $28,000. EverSource Wealth Advisors LLC increased its position in shares of Park National by 629.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company's stock valued at $29,000 after purchasing an additional 151 shares during the period. Quarry LP increased its position in shares of Park National by 878.3% during the 3rd quarter. Quarry LP now owns 225 shares of the company's stock valued at $37,000 after purchasing an additional 202 shares during the period. CWM LLC increased its position in shares of Park National by 84.8% during the 3rd quarter. CWM LLC now owns 412 shares of the company's stock valued at $67,000 after purchasing an additional 189 shares during the period. Finally, Salomon & Ludwin LLC increased its position in shares of Park National by 40.7% during the 3rd quarter. Salomon & Ludwin LLC now owns 470 shares of the company's stock valued at $76,000 after purchasing an additional 136 shares during the period. 62.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Zacks Research cut Park National from a "strong-buy" rating to a "hold" rating in a report on Friday, April 3rd. Piper Sandler lifted their target price on Park National from $176.00 to $183.00 and gave the stock a "neutral" rating in a report on Tuesday, February 3rd. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $181.50.

Park National Stock Performance

Shares of NYSE PRK opened at $172.13 on Thursday. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 18.49 and a beta of 0.70. The stock's fifty day simple moving average is $165.62 and its 200 day simple moving average is $160.91. 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 $139.18 and a 52-week high of $179.48.

Park National Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, February 20th. Park National's dividend payout ratio (DPR) is 39.57%.

Park National Company Profile

Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company's main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.

Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.

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