New York State Common Retirement Fund Grows Stake in Park National Co. (NYSE:PRK)

New York State Common Retirement Fund boosted its position in shares of Park National Co. (NYSE:PRK) by 13.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,021 shares of the company’s stock after purchasing an additional 600 shares during the quarter. New York State Common Retirement Fund’s holdings in Park National were worth $861,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PRK. KBC Group NV raised its stake in shares of Park National by 55.8% during the 4th quarter. KBC Group NV now owns 787 shares of the company’s stock worth $135,000 after buying an additional 282 shares during the last quarter. PDS Planning Inc acquired a new position in Park National during the third quarter worth about $228,000. Colton Groome Financial Advisors LLC purchased a new stake in shares of Park National in the fourth quarter valued at about $236,000. Geneos Wealth Management Inc. acquired a new stake in shares of Park National in the fourth quarter valued at approximately $259,000. Finally, CWA Asset Management Group LLC purchased a new position in shares of Park National during the 3rd quarter worth approximately $263,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

Analyst Ratings Changes

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

Park National Stock Performance

Shares of NYSE PRK opened at $166.38 on Tuesday. The company has a 50-day simple moving average of $169.44 and a 200-day simple moving average of $174.48. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95. The company has a market cap of $2.69 billion, a PE ratio of 17.87 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.

Park National Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.07 dividend. This is a boost from Park National’s previous quarterly dividend of $1.06. This represents a $4.28 annualized dividend and a yield of 2.57%. The ex-dividend date is Friday, February 14th. Park National’s payout ratio is presently 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.