Master S Wealth Management Inc. Makes New Investment in Park National Co. (NYSE:PRK)

Master S Wealth Management Inc. acquired a new stake in shares of Park National Co. (NYSE:PRK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,079 shares of the company’s stock, valued at approximately $528,000. Park National makes up approximately 0.3% of Master S Wealth Management Inc.’s portfolio, making the stock its 16th biggest position.

A number of other large investors also recently modified their holdings of PRK. Vanguard Group Inc. lifted its holdings in shares of Park National by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,701,587 shares of the company’s stock valued at $291,703,000 after purchasing an additional 6,432 shares in the last quarter. Geode Capital Management LLC lifted its stake in Park National by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 334,188 shares of the company’s stock valued at $56,148,000 after acquiring an additional 3,165 shares in the last quarter. Invesco Ltd. boosted its holdings in Park National by 22.8% during the 4th quarter. Invesco Ltd. now owns 107,428 shares of the company’s stock worth $18,416,000 after acquiring an additional 19,948 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Park National by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 70,523 shares of the company’s stock worth $12,090,000 after acquiring an additional 2,007 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Park National by 427.9% in the fourth quarter. JPMorgan Chase & Co. now owns 64,482 shares of the company’s stock valued at $11,054,000 after purchasing an additional 52,268 shares during the last quarter. 62.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PRK shares. Keefe, Bruyette & Woods reaffirmed 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. Piper Sandler initiated 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 Stock Performance

NYSE PRK opened at $144.72 on Wednesday. The company has a market capitalization of $2.34 billion, a PE ratio of 15.54 and a beta of 0.72. 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 Co. has a 52-week low of $123.31 and a 52-week high of $207.99. The company has a 50-day simple moving average of $156.71 and a 200 day simple moving average of $170.25.

Park National Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Park National’s previous quarterly dividend of $1.06. Park National’s payout ratio 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.