American Century Companies Inc. Buys 1,793 Shares of Park National Co. $PRK

Key Points

• American Century Companies Inc. increased its stake in Park National Co. by 4.8%, owning about 0.24% of the company valued at $5,877,000 after acquiring additional shares in the first quarter.
• Park National's stock has a consensus rating of "Hold" from analysts, with recent downgrades and a target price of $177.75.
• The company announced a quarterly dividend of $1.07 per share, resulting in an annual yield of 2.5%, to be paid on September 10th to investors of record.

American Century Companies Inc. grew its stake in shares of Park National Co. (NYSE:PRK - Free Report) by 4.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 38,820 shares of the company's stock after buying an additional 1,793 shares during the period. American Century Companies Inc. owned approximately 0.24% of Park National worth $5,877,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in PRK. GAMMA Investing LLC raised its position in shares of Park National by 199.3% during the first quarter. GAMMA Investing LLC now owns 449 shares of the company's stock valued at $68,000 after buying an additional 299 shares during the last quarter. KBC Group NV raised its position in shares of Park National by 11.6% during the first quarter. KBC Group NV now owns 878 shares of the company's stock valued at $133,000 after buying an additional 91 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Park National during the first quarter valued at about $208,000. CoreCap Advisors LLC increased its stake in Park National by 801.4% in the fourth quarter. CoreCap Advisors LLC now owns 1,244 shares of the company's stock valued at $213,000 after acquiring an additional 1,106 shares during the period. Finally, Aquatic Capital Management LLC increased its stake in Park National by 63.6% in the fourth quarter. Aquatic Capital Management LLC now owns 1,309 shares of the company's stock valued at $224,000 after acquiring an additional 509 shares during the period. Institutional investors and hedge funds own 62.65% of the company's stock.

Park National Stock Performance

Park National stock traded down $2.29 during midday trading on Monday, hitting $171.77. The company's stock had a trading volume of 40,791 shares, compared to its average volume of 59,459. The company has a 50-day moving average price of $168.79 and a two-hundred day moving average price of $161.24. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 18.45 and a beta of 0.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95. Park National Co. has a 1-year low of $137.97 and a 1-year high of $207.99.

Park National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, August 15th. Park National's payout ratio is 41.59%.

Analyst Upgrades and Downgrades

PRK has been the topic of a number of analyst reports. Raymond James Financial assumed coverage on shares of Park National in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. Wall Street Zen lowered shares of Park National from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $177.75.

About Park National

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.