Park National Co. (NYSE:PRK) Shares Acquired by First Trust Advisors LP

First Trust Advisors LP raised its position in shares of Park National Co. (NYSE:PRK - Free Report) by 77.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 160,715 shares of the company's stock after acquiring an additional 70,170 shares during the period. First Trust Advisors LP owned approximately 0.99% of Park National worth $27,551,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PRK. JPMorgan Chase & Co. raised its stake in shares of Park National by 427.9% in the 4th quarter. JPMorgan Chase & Co. now owns 64,482 shares of the company's stock valued at $11,054,000 after acquiring an additional 52,268 shares during the period. Raymond James Financial Inc. purchased a new position in Park National in the fourth quarter valued at about $3,673,000. Invesco Ltd. lifted its stake in shares of Park National by 22.8% during the fourth quarter. Invesco Ltd. now owns 107,428 shares of the company's stock worth $18,416,000 after purchasing an additional 19,948 shares in the last quarter. Barclays PLC boosted its position in shares of Park National by 161.7% in the third quarter. Barclays PLC now owns 28,528 shares of the company's stock worth $4,792,000 after buying an additional 17,627 shares during the period. Finally, Matauro LLC acquired a new stake in shares of Park National in the fourth quarter valued at about $2,203,000. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

Park National Stock Up 0.9 %

PRK traded up $1.29 during trading on Thursday, hitting $151.39. The company had a trading volume of 31,056 shares, compared to its average volume of 56,752. Park National Co. has a 1-year low of $131.93 and a 1-year high of $207.99. 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 company has a market cap of $2.45 billion, a PE ratio of 16.28 and a beta of 0.72. The business has a 50-day moving average of $152.00 and a 200-day moving average of $168.92.

Park National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $4.28 annualized dividend and a dividend yield of 2.83%. Park National's payout ratio is 43.94%.

Analyst Ratings Changes

PRK has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on Park National from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Wednesday. Piper Sandler initiated coverage on shares of Park National in a research note on Thursday, February 20th. They issued a "neutral" rating and a $185.50 target price for the company.

Park National Company Profile

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.