Vanguard Group Inc. Buys 6,432 Shares of Park National Co. (NYSE:PRK)

Vanguard Group Inc. increased its stake in shares of Park National Co. (NYSE:PRK) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,701,587 shares of the company’s stock after buying an additional 6,432 shares during the quarter. Vanguard Group Inc. owned 10.53% of Park National worth $291,703,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in shares of Park National by 162.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 181 shares of the company’s stock valued at $31,000 after purchasing an additional 112 shares in the last quarter. Signaturefd LLC grew its stake in Park National by 9.7% during the fourth quarter. Signaturefd LLC now owns 692 shares of the company’s stock worth $119,000 after buying an additional 61 shares during the last quarter. KBC Group NV increased its holdings in shares of Park National by 55.8% during the fourth quarter. KBC Group NV now owns 787 shares of the company’s stock worth $135,000 after buying an additional 282 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Park National in the fourth quarter valued at approximately $201,000. Finally, Cibc World Markets Corp acquired a new position in shares of Park National in the 4th quarter worth approximately $231,000. 62.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Park National Stock Down 0.2 %

NYSE:PRK opened at $142.71 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. Park National Co. has a 12-month low of $123.08 and a 12-month high of $207.99. The stock’s fifty day simple moving average is $161.21 and its 200-day simple moving average is $171.87. The firm has a market capitalization of $2.31 billion, a P/E ratio of 15.33 and a beta of 0.72.

Park National Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.07 per share. The ex-dividend date was Friday, February 14th. This represents a $4.28 dividend on an annualized basis and a yield of 3.00%. This is a boost from Park National’s previous quarterly dividend of $1.06. Park National’s dividend payout ratio (DPR) is 45.97%.

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.