Y Intercept Hong Kong Ltd Invests $201,000 in Park National Co. (NYSE:PRK)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Park National Co. (NYSE:PRK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,171 shares of the company’s stock, valued at approximately $201,000.

A number of other large investors have also modified their holdings of the company. State Street Corp increased its holdings in Park National by 0.5% in the 3rd quarter. State Street Corp now owns 632,567 shares of the company’s stock valued at $106,259,000 after buying an additional 3,318 shares during the period. Geode Capital Management LLC boosted its position in shares of Park National by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 334,188 shares of the company’s stock valued at $56,148,000 after acquiring an additional 3,165 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Park National by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 179,570 shares of the company’s stock valued at $30,164,000 after acquiring an additional 2,119 shares during the period. Principal Financial Group Inc. raised its position in Park National by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 70,523 shares of the company’s stock worth $12,090,000 after purchasing an additional 2,007 shares in the last quarter. Finally, Barclays PLC lifted its stake in Park National by 161.7% during the third quarter. Barclays PLC now owns 28,528 shares of the company’s stock worth $4,792,000 after purchasing an additional 17,627 shares during the period. 62.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PRK shares. Piper Sandler began coverage on Park National in a research note on Thursday, February 20th. They issued a “neutral” rating and a $185.50 price objective on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $178.00 price target (down previously from $187.00) on shares of Park National in a research note on Wednesday, January 29th.

Park National Price Performance

NYSE:PRK opened at $159.33 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.57 billion, a PE ratio of 17.11 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’s 50-day moving average price is $168.82 and its two-hundred day moving average price is $174.36.

Park National Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Park National’s previous quarterly dividend of $1.06. This represents a $4.28 dividend on an annualized basis and a yield of 2.69%. Park National’s dividend payout ratio is 45.97%.

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.