Park National Co. (NYSE:PRK) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in Park National Co. (NYSE:PRK) by 0.8% during the fourth quarter, Holdings Channel reports. The firm owned 495,854 shares of the company’s stock after purchasing an additional 3,911 shares during the period. Dimensional Fund Advisors LP’s holdings in Park National were worth $85,006,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. First Trust Advisors LP boosted its holdings in Park National by 77.5% in the fourth quarter. First Trust Advisors LP now owns 160,715 shares of the company’s stock valued at $27,551,000 after acquiring an additional 70,170 shares during the last quarter. JPMorgan Chase & Co. lifted 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 purchasing an additional 52,268 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Park National in the 4th quarter valued at about $3,673,000. Invesco Ltd. grew its holdings in shares of Park National by 22.8% during the 4th quarter. Invesco Ltd. now owns 107,428 shares of the company’s stock worth $18,416,000 after purchasing an additional 19,948 shares during the period. Finally, Barclays PLC increased its position in Park National by 161.7% during the 3rd quarter. Barclays PLC now owns 28,528 shares of the company’s stock worth $4,792,000 after purchasing an additional 17,627 shares in the last quarter. 62.65% of the stock is owned by hedge funds and other institutional investors.

Park National Stock Performance

Park National stock opened at $151.55 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. Park National Co. has a one year low of $131.71 and a one year high of $207.99. The stock’s 50 day moving average price is $152.26 and its 200 day moving average price is $169.05. The firm has a market capitalization of $2.45 billion, a PE ratio of 16.28 and a beta of 0.72.

Park National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $4.28 annualized dividend and a dividend yield of 2.82%. Park National’s dividend payout ratio (DPR) is presently 45.97%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PRK shares. Piper Sandler assumed coverage on shares of Park National in a research note on Thursday, February 20th. They set a “neutral” rating and a $185.50 price objective for the company. Keefe, Bruyette & Woods reaffirmed 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.

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.