Capstone Investment Advisors LLC Makes New $653,000 Investment in Park National Co. $PRK

Capstone Investment Advisors LLC purchased a new stake in shares of Park National Co. (NYSE:PRK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,571 shares of the company’s stock, valued at approximately $653,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRK. Corient Private Wealth LP bought a new position in shares of Park National in the second quarter worth about $3,398,000. Bank of America Corp DE bought a new stake in Park National during the 2nd quarter valued at approximately $9,918,000. Windsor Advisory Group LLC bought a new stake in Park National during the 2nd quarter valued at approximately $689,000. Freestone Grove Partners LP acquired a new stake in Park National in the 2nd quarter valued at approximately $659,000. Finally, Gallagher Fiduciary Advisors LLC acquired a new stake in Park National in the 2nd quarter valued at approximately $927,000. 62.65% of the stock is owned by institutional investors and hedge funds.

Park National Trading Up 0.0%

Shares of PRK stock opened at $198.12 on Friday. The firm has a fifty day moving average of $194.32 and a 200-day moving average of $177.75. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 21.28 and a beta of 0.69. Park National Co. has a 52-week low of $149.06 and a 52-week 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.

Park National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 21st will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, August 21st. Park National’s dividend payout ratio is currently 39.39%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Keefe, Bruyette & Woods lifted their price target on Park National from $180.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Piper Sandler increased their price objective on Park National from $189.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, Raymond James Financial initiated coverage on shares of Park National in a research note on Tuesday, July 7th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $211.00.

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.