US Bancorp DE Trims Stock Holdings in Park National Co. (NYSE:PRK)

US Bancorp DE lowered its position in shares of Park National Co. (NYSE:PRK) by 26.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,452 shares of the company’s stock after selling 878 shares during the period. US Bancorp DE’s holdings in Park National were worth $420,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PRK. CWA Asset Management Group LLC bought a new stake in shares of Park National in the 3rd quarter worth approximately $263,000. Atria Investments Inc increased its position in Park National by 31.6% during the 3rd quarter. Atria Investments Inc now owns 3,367 shares of the company’s stock valued at $566,000 after purchasing an additional 809 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Park National in the 3rd quarter worth about $280,000. Los Angeles Capital Management LLC purchased a new stake in shares of Park National in the 3rd quarter worth about $288,000. Finally, Huntington National Bank increased its stake in Park National by 13.2% during the 3rd quarter. Huntington National Bank now owns 2,309 shares of the company’s stock valued at $388,000 after purchasing an additional 269 shares in the last quarter. 62.65% of the stock is currently owned by institutional investors.

Park National Trading Up 0.1 %

Park National stock opened at $152.24 on Thursday. The firm’s 50 day moving average price is $166.93 and its 200-day moving average price is $173.93. Park National Co. has a 1 year low of $123.08 and a 1 year high of $207.99. The stock has a market cap of $2.46 billion, a P/E ratio of 16.35 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95.

Park National Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PRK. Keefe, Bruyette & Woods restated a “market perform” rating and set a $178.00 price objective (down from $187.00) on shares of Park National in a research note on Wednesday, January 29th. Piper Sandler began coverage on shares of Park National in a report on Thursday, February 20th. They set a “neutral” rating and a $185.50 price target on the stock.

About Park National

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.