Smartleaf Asset Management LLC Boosts Stake in Park National Co. (NYSE:PRK)

Smartleaf Asset Management LLC raised its holdings in Park National Co. (NYSE:PRK) by 162.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 181 shares of the company’s stock after purchasing an additional 112 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Park National were worth $31,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in shares of Park National by 55.8% in the 4th quarter. KBC Group NV now owns 787 shares of the company’s stock valued at $135,000 after buying an additional 282 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Park National in the 4th quarter valued at $201,000. Colton Groome Financial Advisors LLC purchased a new stake in shares of Park National in the 4th quarter valued at $236,000. Geneos Wealth Management Inc. purchased a new stake in shares of Park National in the 4th quarter valued at $259,000. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Park National in the 3rd quarter valued at $263,000. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Analyst Ratings Changes

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

Park National Trading Up 0.1 %

NYSE:PRK opened at $152.24 on Thursday. The stock has a 50-day simple moving average of $166.93 and a 200-day simple moving average of $173.93. The stock has a market cap of $2.46 billion, a P/E ratio of 16.35 and a beta of 0.72. Park National Co. has a 1 year low of $123.08 and a 1 year high of $207.99. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.07 per share. This is a boost from Park National’s previous quarterly dividend of $1.06. This represents a $4.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Friday, February 14th. Park National’s dividend payout ratio is currently 45.97%.

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.