Janney Montgomery Scott LLC Raises Stock Holdings in Park National Co. (NYSE:PRK)

Janney Montgomery Scott LLC lifted its holdings in Park National Co. (NYSE:PRK) by 236.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,124 shares of the company’s stock after purchasing an additional 3,599 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Park National were worth $878,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PRK. Contravisory Investment Management Inc. purchased a new position in shares of Park National in the 3rd quarter worth $227,000. PDS Planning Inc bought a new position in shares of Park National in the 3rd quarter valued at about $228,000. Algert Global LLC purchased a new position in Park National in the second quarter worth about $231,000. CWA Asset Management Group LLC bought a new stake in Park National during the third quarter worth approximately $263,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Park National during the third quarter valued at approximately $280,000. Institutional investors own 62.65% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $178.00 target price (down previously from $187.00) on shares of Park National in a research report on Wednesday, January 29th.

Park National Price Performance

PRK stock opened at $172.97 on Friday. The stock has a market cap of $2.80 billion, a PE ratio of 18.58 and a beta of 0.73. Park National Co. has a 12 month low of $123.08 and a 12 month high of $207.99. The company has a 50-day moving average price of $176.11 and a 200 day moving average price of $174.67. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Park National Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Park National’s previous quarterly dividend of $1.06. Park National’s payout ratio is currently 45.54%.

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.