Charles Schwab Investment Management Inc. Increases Stock Holdings in Park National Co. (NYSE:PRK)

Charles Schwab Investment Management Inc. boosted its stake in Park National Co. (NYSE:PRK) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 163,532 shares of the company’s stock after buying an additional 6,724 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Park National were worth $21,727,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PRK. Numerai GP LLC bought a new stake in shares of Park National in the 3rd quarter worth $200,000. Nisa Investment Advisors LLC grew its position in Park National by 60.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,609 shares of the company’s stock worth $214,000 after purchasing an additional 609 shares in the last quarter. FORVIS Wealth Advisors LLC purchased a new stake in Park National in the 4th quarter valued at about $238,000. Fruth Investment Management bought a new position in shares of Park National during the 4th quarter worth approximately $239,000. Finally, Sabal Trust CO purchased a new position in shares of Park National in the 4th quarter worth approximately $266,000. 62.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PRK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $130.00 price target (up from $125.00) on shares of Park National in a report on Wednesday, April 24th. Piper Sandler assumed coverage on Park National in a research note on Friday, February 23rd. They set a “neutral” rating and a $130.00 target price on the stock. Finally, StockNews.com upgraded shares of Park National from a “sell” rating to a “hold” rating in a research report on Friday, May 17th.

Park National Trading Up 0.7 %

Shares of PRK stock opened at $136.76 on Friday. Park National Co. has a 12-month low of $90.28 and a 12-month high of $144.01. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $133.36 and a 200-day moving average of $128.66. The firm has a market cap of $2.21 billion, a P/E ratio of 17.31 and a beta of 0.70.

Park National (NYSE:PRK) last released its earnings results on Friday, April 19th. The company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.30. Park National had a return on equity of 12.13% and a net margin of 22.03%. The business had revenue of $121.82 million during the quarter, compared to the consensus estimate of $118.29 million. Sell-side analysts anticipate that Park National Co. will post 7.92 earnings per share for the current year.

Park National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, May 16th. Park National’s dividend payout ratio (DPR) is presently 53.67%.

About Park National

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.