Park National Co. $PRK Stock Holdings Lifted by Swiss National Bank

Swiss National Bank grew its position in Park National Co. (NYSE:PRK) by 12.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,100 shares of the company’s stock after purchasing an additional 3,600 shares during the period. Swiss National Bank owned about 0.18% of Park National worth $5,247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of Park National by 629.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock valued at $29,000 after buying an additional 151 shares in the last quarter. Danske Bank A S raised its position in Park National by 100.0% during the fourth quarter. Danske Bank A S now owns 200 shares of the company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Quarry LP raised its position in Park National by 878.3% during the third quarter. Quarry LP now owns 225 shares of the company’s stock valued at $37,000 after acquiring an additional 202 shares in the last quarter. Sarver Vrooman Wealth Advisors acquired a new stake in Park National in the fourth quarter valued at approximately $46,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in Park National in the fourth quarter worth approximately $76,000. 62.65% of the stock is owned by hedge funds and other institutional investors.

Park National Trading Up 2.7%

NYSE:PRK opened at $212.56 on Thursday. The company’s 50 day moving average is $180.74 and its 200-day moving average is $171.64. 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 $149.06 and a 12 month high of $214.10. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 22.83 and a beta of 0.69.

Park National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 21st will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. Park National’s payout ratio is currently 39.39%.

Wall Street Analyst Weigh In

PRK has been the topic of several analyst reports. Zacks Research lowered shares of Park National from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Raymond James Financial assumed coverage on shares of Park National in a report on Tuesday, July 7th. They issued a “market perform” rating for the company. Finally, Piper Sandler increased their target price on shares of Park National from $189.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday. Four analysts have rated the stock with a Hold rating, According to MarketBeat, Park National has an average rating of “Hold” and an average price target of $198.50.

Park National Company 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.