Mutual Advisors LLC reduced its stake in Park National Co. (NYSE:PRK – Free Report) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,662 shares of the company’s stock after selling 126 shares during the period. Mutual Advisors LLC’s holdings in Park National were worth $354,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of PRK. JPMorgan Chase & Co. raised its holdings in Park National by 47.8% in the 1st quarter. JPMorgan Chase & Co. now owns 13,739 shares of the company’s stock valued at $1,805,000 after acquiring an additional 4,446 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Park National by 105.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,910 shares of the company’s stock worth $1,171,000 after purchasing an additional 4,577 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Park National by 55.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,759 shares of the company’s stock valued at $888,000 after purchasing an additional 2,400 shares during the period. Cetera Advisor Networks LLC grew its position in shares of Park National by 9.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,791 shares of the company’s stock worth $235,000 after purchasing an additional 150 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Park National by 12.7% during the first quarter. Citigroup Inc. now owns 12,662 shares of the company’s stock worth $1,664,000 after purchasing an additional 1,424 shares during the period. 62.65% of the stock is owned by institutional investors.
Park National Trading Up 0.8 %
Shares of Park National stock opened at $135.85 on Friday. The firm has a market capitalization of $2.19 billion, a PE ratio of 17.42 and a beta of 0.69. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $130.47 and its 200 day moving average is $118.26. Park National Co. has a 1 year low of $90.28 and a 1 year high of $137.26.
Park National Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 16th were paid 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 yield of 3.12%. This is a boost from Park National’s previous quarterly dividend of $1.05. Park National’s dividend payout ratio (DPR) is currently 54.36%.
Analyst Upgrades and Downgrades
Separately, Piper Sandler started coverage on shares of Park National in a research report on Friday, February 23rd. They set a “neutral” rating and a $130.00 price objective for the company.
View Our Latest Research Report on PRK
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.
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