UBS Group AG Has $9.83 Million Stake in Park National Co. $PRK

UBS Group AG lifted its holdings in shares of Park National Co. (NYSE:PRK) by 15.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,583 shares of the company’s stock after buying an additional 8,777 shares during the quarter. UBS Group AG owned about 0.40% of Park National worth $9,828,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PRK. Royal Bank of Canada boosted its stake in Park National by 59.2% during the 1st quarter. Royal Bank of Canada now owns 3,085 shares of the company’s stock worth $467,000 after acquiring an additional 1,147 shares during the last quarter. AQR Capital Management LLC boosted its stake in Park National by 27.6% during the 1st quarter. AQR Capital Management LLC now owns 4,087 shares of the company’s stock worth $619,000 after acquiring an additional 884 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Park National by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,583 shares of the company’s stock worth $1,299,000 after acquiring an additional 384 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Park National by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 31,122 shares of the company’s stock worth $4,712,000 after acquiring an additional 1,293 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in Park National by 3,571.9% during the 1st quarter. Jane Street Group LLC now owns 50,342 shares of the company’s stock worth $7,622,000 after acquiring an additional 48,971 shares during the last quarter. Institutional investors and hedge funds own 62.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PRK shares. Piper Sandler lifted their price objective on shares of Park National from $183.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Zacks Research lowered shares of Park National from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $184.00.

Park National Stock Performance

Shares of PRK stock opened at $163.84 on Friday. The company’s fifty day simple moving average is $166.05 and its 200-day simple moving average is $162.89. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.96 billion, a PE ratio of 17.60 and a beta of 0.71. Park National Co. has a 12 month low of $149.06 and a 12 month high of $179.48.

Park National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, May 15th. Park National’s payout ratio is currently 40.33%.

Park National Profile

Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company’s main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.

Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.