Park National Co. (NYSE:PRK) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in shares of Park National Co. (NYSE:PRK - Free Report) by 87.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,146 shares of the company's stock after selling 8,244 shares during the period. SG Americas Securities LLC's holdings in Park National were worth $152,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRK. Captrust Financial Advisors grew its holdings in shares of Park National by 2.3% in the second quarter. Captrust Financial Advisors now owns 3,759 shares of the company's stock valued at $456,000 after acquiring an additional 85 shares in the last quarter. FMR LLC grew its holdings in shares of Park National by 1.5% in the second quarter. FMR LLC now owns 5,973 shares of the company's stock valued at $724,000 after acquiring an additional 89 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Park National by 19.8% in the third quarter. Royal Bank of Canada now owns 582 shares of the company's stock valued at $73,000 after acquiring an additional 96 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Park National by 0.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 14,617 shares of the company's stock valued at $1,772,000 after acquiring an additional 98 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its holdings in shares of Park National by 1.3% in the third quarter. Kestra Advisory Services LLC now owns 8,650 shares of the company's stock valued at $818,000 after acquiring an additional 114 shares in the last quarter. 62.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler started coverage on Park National in a report on Friday, February 23rd. They issued a "neutral" rating and a $130.00 target price for the company.

Park National Stock Performance

NYSE PRK traded down $1.25 on Tuesday, hitting $124.45. 31,370 shares of the stock traded hands, compared to its average volume of 44,595. The business's fifty day moving average is $129.80 and its two-hundred day moving average is $121.24. Park National Co. has a 12 month low of $90.28 and a 12 month high of $137.26. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 16.04 and a beta of 0.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.91 and a current ratio of 0.91.

Park National (NYSE:PRK - Get Free Report) last announced its quarterly earnings data on Monday, January 22nd. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.09. Park National had a return on equity of 12.17% and a net margin of 22.46%. The business had revenue of $140.73 million during the quarter, compared to analyst estimates of $119.14 million. As a group, equities analysts anticipate that Park National Co. will post 7.6 EPS for the current fiscal year.

Park National Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 16th were given a dividend of $1.06 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $4.24 annualized dividend and a dividend yield of 3.41%. This is an increase from Park National's previous quarterly dividend of $1.05. Park National's dividend payout ratio is currently 54.36%.

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.