Park National Co. $PRK Stock Position Boosted by Park National Corp OH

Key Points

• Park National Corp OH increased its Park National Co. stake by 1.6% in the third quarter, bringing its holdings to 1.15 million shares valued at approximately $204.7 million. Institutional investors and hedge funds collectively own 62.65% of PRK.
• Analysts remain cautious, with all five covering the stock assigning a “Hold” rating. The consensus price target is $200.50, while recent targets include $190 from Hovde Group and National Bank Financial and $205 from Keefe, Bruyette & Woods.
• PRK recently traded at $182.19 and has a 52-week range of $149.06 to $215.00. Park National pays a quarterly dividend of $1.10 per share, equivalent to a $4.40 annualized dividend and a 2.4% yield.

Park National Corp OH grew its holdings in shares of Park National Co. (NYSE:PRK - Free Report) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,145,746 shares of the company's stock after buying an additional 17,824 shares during the period. Park National accounts for about 5.5% of Park National Corp OH's holdings, making the stock its largest holding. Park National Corp OH owned about 6.34% of Park National worth $204,699,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Park National by 253.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 152 shares of the company's stock valued at $28,000 after acquiring an additional 109 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Park National in the second quarter valued at approximately $30,000. Versant Capital Management Inc increased its stake in Park National by 156.9% in the second quarter. Versant Capital Management Inc now owns 262 shares of the company's stock valued at $48,000 after purchasing an additional 160 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Park National during the second quarter worth approximately $52,000. Finally, Ancora Advisors LLC acquired a new stake in Park National during the second quarter worth approximately $55,000. 62.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRK has been the topic of a number of recent analyst reports. Hovde Group began coverage on shares of Park National in a research report on Friday, September 25th. They issued a "market perform" rating and a $190.00 target price on the stock. National Bank Financial set a $190.00 price objective on Park National in a report on Friday, September 25th. Piper Sandler reiterated a "neutral" rating on shares of Park National in a research report on Friday, September 25th. Keefe, Bruyette & Woods boosted their target price on Park National from $180.00 to $205.00 and gave the company a "market perform" rating in a report on Thursday, July 30th. Finally, Raymond James Financial assumed coverage on Park National in a research report on Tuesday, July 7th. They issued a "market perform" rating for the company. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $200.50.

Park National Stock Performance

NYSE PRK traded down $0.96 during trading on Monday, reaching $182.19. The company's stock had a trading volume of 32,375 shares, compared to its average volume of 93,453. The business's fifty day moving average price is $194.96 and its 200-day moving average price is $181.06. Park National Co. has a twelve month low of $149.06 and a twelve month high of $215.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 19.57 and a beta of 0.72.

Park National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 21st were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, August 21st. Park National's dividend payout ratio is 39.39%.

Park National Company Profile

Park National Corporation is a bank holding company headquartered in Newark, Ohio. Through its principal subsidiary, Park National Bank, the company provides a range of banking and financial services to individuals, families, businesses, nonprofit organizations and public entities. Its roots date to the founding of The Park National Bank in 1908.

Park National's banking activities include checking and savings accounts, certificates of deposit, residential mortgages, commercial real estate financing, business loans, consumer lending and agricultural lending.

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