Park National Co. (NYSE:PRK) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its holdings in shares of Park National Co. (NYSE:PRK) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,701,106 shares of the company’s stock after acquiring an additional 12,925 shares during the quarter. Vanguard Group Inc. owned about 10.55% of Park National worth $226,009,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in shares of Park National by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 457,745 shares of the company’s stock worth $60,818,000 after purchasing an additional 10,266 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Park National by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 163,532 shares of the company’s stock valued at $21,727,000 after buying an additional 6,724 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Park National by 44.8% during the fourth quarter. Victory Capital Management Inc. now owns 55,788 shares of the company’s stock valued at $7,412,000 after acquiring an additional 17,271 shares in the last quarter. American Century Companies Inc. increased its position in shares of Park National by 5.0% during the third quarter. American Century Companies Inc. now owns 54,207 shares of the company’s stock worth $5,124,000 after acquiring an additional 2,579 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in shares of Park National by 60.8% in the fourth quarter. Raymond James & Associates now owns 14,589 shares of the company’s stock worth $1,938,000 after acquiring an additional 5,516 shares in the last quarter. 62.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. StockNews.com downgraded Park National from a “hold” rating to a “sell” rating in a report on Wednesday, June 12th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $130.00 price target (up previously from $125.00) on shares of Park National in a research note on Wednesday, April 24th.

Park National Trading Down 0.1 %

Shares of NYSE PRK opened at $142.15 on Tuesday. 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 stock’s 50 day moving average price is $137.01 and its two-hundred day moving average price is $132.59. Park National Co. has a 52-week low of $90.28 and a 52-week high of $144.40. The stock has a market capitalization of $2.30 billion, a P/E ratio of 17.99 and a beta of 0.71.

Park National (NYSE:PRK) last posted its quarterly earnings results on Friday, April 19th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.30. The business had revenue of $121.82 million for the quarter, compared to analyst estimates of $118.29 million. Park National had a return on equity of 12.13% and a net margin of 22.03%. On average, analysts anticipate that Park National Co. will post 8.12 earnings per share for the current fiscal year.

Park National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a $1.06 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 2.98%. Park National’s payout ratio is currently 53.67%.

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.