Charles Schwab Investment Management Inc. Boosts Stock Position in Park National Co. (NYSE:PRK)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Park National Co. (NYSE:PRK) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 179,695 shares of the company’s stock after acquiring an additional 125 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.11% of Park National worth $30,805,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in Park National by 162.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 181 shares of the company’s stock valued at $31,000 after acquiring an additional 112 shares during the period. KBC Group NV boosted its holdings in Park National by 55.8% during the 4th quarter. KBC Group NV now owns 787 shares of the company’s stock valued at $135,000 after acquiring an additional 282 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Park National during the 4th quarter valued at $201,000. Colton Groome Financial Advisors LLC purchased a new position in Park National during the 4th quarter valued at $236,000. Finally, Geneos Wealth Management Inc. purchased a new position in Park National during the 4th quarter valued at $259,000. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PRK. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $178.00 target price (down from $187.00) on shares of Park National in a report on Wednesday, January 29th. Piper Sandler began coverage on Park National in a report on Thursday, February 20th. They issued a “neutral” rating and a $185.50 target price for the company.

Park National Price Performance

Shares of PRK stock opened at $156.20 on Monday. Park National Co. has a twelve month low of $123.08 and a twelve month high of $207.99. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 16.78 and a beta of 0.72. The stock has a fifty day simple moving average of $166.24 and a two-hundred day simple moving average of $173.67. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Park National Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.74%. This is a positive change from Park National’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, February 14th. Park National’s payout ratio is presently 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.