Park National Co. $PRK Stock Acquired by Investment Partners LTD.

Investment Partners LTD. raised its position in Park National Co. (NYSE:PRK) by 108.3% during the third quarter, HoldingsChannel.com reports. The firm owned 5,790 shares of the company’s stock after purchasing an additional 3,010 shares during the period. Investment Partners LTD.’s holdings in Park National were worth $1,035,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Livelsberger Financial Advisory purchased a new position in Park National in the third quarter valued at $29,000. Laurel Wealth Advisors LLC purchased a new position in Park National in the 3rd quarter valued at $28,000. Balance Wealth Partners LLC purchased a new position in shares of Park National in the third quarter valued at $149,000. IFP Advisors Inc raised its holdings in Park National by 1,175.0% in the 3rd quarter. IFP Advisors Inc now owns 255 shares of the company’s stock valued at $46,000 after acquiring an additional 235 shares during the last quarter. Finally, Park National Corp OH raised its holdings in Park National by 1.6% in the third quarter. Park National Corp OH now owns 1,145,746 shares of the company’s stock valued at $204,699,000 after buying an additional 17,824 shares during the period. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Stock Performance

Shares of Park National stock opened at $175.58 on Friday. Park National Co. has a 52 week low of $149.06 and a 52 week high of $215.00. The business’s fifty day simple moving average is $184.74 and its 200-day simple moving average is $177.76. 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 $3.17 billion, a PE ratio of 18.86 and a beta of 0.72.

Park National Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. This is an increase from Park National’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, November 20th. Park National’s payout ratio is 38.66%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. National Bank Financial set a $190.00 price objective on Park National in a report on Friday, September 25th. Keefe, Bruyette & Woods raised their target price on shares of Park National from $180.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Hovde Group started coverage on shares of Park National in a research report on Friday, September 25th. They issued a “market perform” rating and a $190.00 target price on the stock. Piper Sandler cut their price objective on shares of Park National from $217.00 to $201.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Raymond James Financial began coverage on Park National in a report on Tuesday, July 7th. They set a “market perform” rating for the company. Five equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $196.50.

About Park National

Park National Corporation is a bank holding company headquartered in Newark, Ohio. Its principal subsidiary, The Park National Bank, provides banking and financial services to individuals, families, businesses and nonprofit organizations.

The bank offers deposit accounts, residential and commercial lending, mortgage services, treasury management, online and mobile banking, and other personal and business financial solutions. Through its wealth management and trust operations, it also provides investment management, fiduciary, retirement and estate-planning services.