Vanguard Group Inc. Has $249.34 Million Holdings in Park National Co. $PRK

Key Points

• Vanguard Group trimmed its Park National stake by 0.9% in the fourth quarter, but still held 1.64 million shares worth about $249.3 million, or roughly 10.19% of the company.
• Institutional ownership remains significant, with hedge funds and other investors making small-to-large adjustments in PRK positions and 62.65% of the stock held by institutions overall.
• Analysts currently have a Hold consensus on Park National; meanwhile, the company is trading around $173.24 and recently announced a quarterly dividend of $1.10 per share payable June 10.

Vanguard Group Inc. lessened its stake in shares of Park National Co. (NYSE:PRK - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,638,420 shares of the company's stock after selling 14,135 shares during the period. Vanguard Group Inc. owned about 10.19% of Park National worth $249,335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRK. EverSource Wealth Advisors LLC raised its holdings in Park National by 629.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company's stock worth $29,000 after buying an additional 151 shares during the period. Quarry LP raised its holdings in Park National by 878.3% during the 3rd quarter. Quarry LP now owns 225 shares of the company's stock worth $37,000 after buying an additional 202 shares during the period. CWM LLC raised its holdings in Park National by 84.8% during the 3rd quarter. CWM LLC now owns 412 shares of the company's stock worth $67,000 after buying an additional 189 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new stake in Park National during the 4th quarter worth about $76,000. Finally, GAMMA Investing LLC raised its holdings in Park National by 13.4% during the 4th quarter. GAMMA Investing LLC now owns 628 shares of the company's stock worth $96,000 after buying an additional 74 shares during the period. Institutional investors and hedge funds own 62.65% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PRK shares. Zacks Research downgraded Park National from a "strong-buy" rating to a "hold" rating in a report on Friday, April 3rd. Piper Sandler boosted their price objective on Park National from $183.00 to $188.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Park National currently has a consensus rating of "Hold" and an average price target of $184.00.

Park National Price Performance

Shares of PRK opened at $173.24 on Friday. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 18.61 and a beta of 0.71. Park National Co. has a fifty-two week low of $149.06 and a fifty-two week high of $179.48. 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 business's 50-day moving average is $166.01 and its 200-day moving average is $162.52.

Park National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a $1.10 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.5%. Park National's dividend payout ratio is currently 40.33%.

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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