Rhumbline Advisers decreased its holdings in Park National Co. (NYSE:PRK – Free Report) by 1.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,390 shares of the company’s stock after selling 699 shares during the quarter. Rhumbline Advisers’ holdings in Park National were worth $7,267,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Berkshire Money Management Inc. purchased a new position in shares of Park National during the fourth quarter valued at approximately $553,000. Colton Groome Financial Advisors LLC purchased a new stake in Park National in the 4th quarter valued at $236,000. Asset Dedication LLC lifted its stake in Park National by 367.4% during the 4th quarter. Asset Dedication LLC now owns 1,636 shares of the company’s stock valued at $280,000 after acquiring an additional 1,286 shares in the last quarter. Summit Financial Strategies Inc. boosted its holdings in Park National by 9.2% during the 4th quarter. Summit Financial Strategies Inc. now owns 10,042 shares of the company’s stock worth $1,721,000 after acquiring an additional 848 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Park National by 55.8% during the 4th quarter. KBC Group NV now owns 787 shares of the company’s stock worth $135,000 after acquiring an additional 282 shares during the last quarter. Institutional investors and hedge funds own 62.65% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $178.00 price target (down from $187.00) on shares of Park National in a research report on Wednesday, January 29th. Piper Sandler began coverage on Park National in a report on Thursday, February 20th. They issued a “neutral” rating and a $185.50 target price for the company.
Check Out Our Latest Stock Report on Park National
Park National Price Performance
PRK opened at $163.17 on Wednesday. Park National Co. has a fifty-two week low of $123.08 and a fifty-two week high of $207.99. The firm has a 50-day moving average of $170.56 and a 200 day moving average of $174.31. 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 $2.64 billion, a P/E ratio of 17.53 and a beta of 0.73.
Park National Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.07 per share. The ex-dividend date is Friday, February 14th. This is an increase from Park National’s previous quarterly dividend of $1.06. This represents a $4.28 annualized dividend and a yield of 2.62%. Park National’s dividend payout ratio is 45.97%.
Park National Profile
(Free Report)
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.
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