Gallagher Fiduciary Advisors LLC Invests $927,000 in Park National Co. $PRK

Gallagher Fiduciary Advisors LLC bought a new position in shares of Park National Co. (NYSE:PRK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,065 shares of the company’s stock, valued at approximately $927,000.

Several other large investors have also recently bought and sold shares of PRK. Royal Bank of Canada lifted its holdings 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 buying an additional 1,147 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Park National by 27.6% in the 1st quarter. AQR Capital Management LLC now owns 4,087 shares of the company’s stock valued at $619,000 after acquiring an additional 884 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 in the last quarter. Finally, Jane Street Group LLC lifted its stake in Park National by 3,571.9% during the first quarter. Jane Street Group LLC now owns 50,342 shares of the company’s stock worth $7,622,000 after purchasing an additional 48,971 shares during the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler upped their price target on Park National from $189.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods raised their price objective on shares of Park National from $180.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Finally, Raymond James Financial began coverage on shares of Park National in a report on Tuesday, July 7th. They issued a “market perform” rating for the company. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $211.00.

Park National Stock Down 1.8%

PRK opened at $199.89 on Wednesday. Park National Co. has a one year low of $149.06 and a one year high of $215.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. The stock has a market capitalization of $3.61 billion, a P/E ratio of 21.47 and a beta of 0.69. The business’s 50-day simple moving average is $192.94 and its 200-day simple moving average is $177.28.

Park National Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 2.2%. Park National’s payout ratio is 39.39%.

About Park National

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.