Rhumbline Advisers Has $6.12 Million Position in Park National Co. (NYSE:PRK)

Rhumbline Advisers decreased its position in Park National Co. (NYSE:PRK - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,415 shares of the company's stock after selling 1,975 shares during the quarter. Rhumbline Advisers owned about 0.25% of Park National worth $6,119,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Park National by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,701,587 shares of the company's stock valued at $291,703,000 after purchasing an additional 6,432 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Park National by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 495,854 shares of the company's stock worth $85,006,000 after buying an additional 3,911 shares during the last quarter. Northern Trust Corp raised its holdings in Park National by 4.3% during the fourth quarter. Northern Trust Corp now owns 182,808 shares of the company's stock valued at $31,339,000 after buying an additional 7,505 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Park National by 77.5% in the fourth quarter. First Trust Advisors LP now owns 160,715 shares of the company's stock worth $27,551,000 after buying an additional 70,170 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Park National by 22.8% during the 4th quarter. Invesco Ltd. now owns 107,428 shares of the company's stock worth $18,416,000 after acquiring an additional 19,948 shares in the last quarter. Institutional investors and hedge funds own 62.65% of the company's stock.

Park National Stock Performance

Shares of Park National stock traded down $1.03 during midday trading on Thursday, hitting $162.87. The company had a trading volume of 48,077 shares, compared to its average volume of 58,325. Park National Co. has a 1-year low of $133.38 and a 1-year high of $207.99. The business's 50 day simple moving average is $156.57 and its two-hundred day simple moving average is $164.96. The stock has a market cap of $2.64 billion, a PE ratio of 17.49 and a beta of 0.82. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were issued a dividend of $1.07 per share. The ex-dividend date was Friday, May 16th. This represents a $4.28 annualized dividend and a dividend yield of 2.63%. Park National's payout ratio is 43.94%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PRK shares. Wall Street Zen downgraded Park National from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Piper Sandler started coverage on Park National in a report on Thursday, February 20th. They set a "neutral" rating and a $185.50 price target on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective 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.

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.