Nisa Investment Advisors LLC Has $344,000 Stock Position in Park National Co. (NYSE:PRK)

Nisa Investment Advisors LLC boosted its stake in Park National Co. (NYSE:PRK) by 17.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,009 shares of the company’s stock after buying an additional 300 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Park National were worth $344,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Contravisory Investment Management Inc. purchased a new position in Park National in the third quarter valued at about $227,000. PDS Planning Inc acquired a new position in Park National in the third quarter worth approximately $228,000. Algert Global LLC bought a new position in Park National during the second quarter valued at approximately $231,000. CWA Asset Management Group LLC acquired a new stake in Park National in the third quarter valued at approximately $263,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Park National in the third quarter worth approximately $280,000. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

Park National Stock Performance

Shares of PRK opened at $171.48 on Thursday. The company’s fifty day moving average price is $179.09 and its 200 day moving average price is $174.59. Park National Co. has a one year low of $123.08 and a one year high of $207.99. The company has a market capitalization of $2.77 billion, a PE ratio of 20.29 and a beta of 0.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95.

Park National Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, February 14th. This is a boost from Park National’s previous quarterly dividend of $1.06. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.50%. Park National’s payout ratio is currently 50.18%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $178.00 price objective (down from $187.00) on shares of Park National in a report on Wednesday.

Park National 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.