Jupiter Topco LLC Purchases New Holdings in Park National Co. $PRK

Jupiter Topco LLC acquired a new position in Park National Co. (NYSE:PRK) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 8,028 shares of the company’s stock, valued at approximately $1,470,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Park National in the second quarter worth about $473,814,000. Deutsche Bank AG bought a new position in shares of Park National during the 2nd quarter worth approximately $3,257,000. Legal & General Group Plc bought a new position in Park National during the 2nd quarter valued at about $6,887,000. Dimensional Fund Advisors LP increased its holdings in shares of Park National by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 517,432 shares of the company’s stock worth $84,570,000 after buying an additional 5,859 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Park National in the 2nd quarter valued at $1,299,000. Institutional investors own 62.65% of the company’s stock.

Park National Trading Down 0.5%

PRK opened at $194.73 on Friday. The firm has a 50 day simple moving average of $195.67 and a 200 day simple moving average of $178.44. Park National Co. has a fifty-two week low of $149.06 and a fifty-two week high of $215.00. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 20.92 and a beta of 0.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95.

Park National Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. Park National’s dividend payout ratio is 39.39%.

Analysts Set New Price Targets

PRK has been the topic of several research analyst reports. Keefe, Bruyette & Woods increased their target price on Park National from $180.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Piper Sandler lifted 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. Finally, Raymond James Financial initiated coverage on shares of Park National in a research report on Tuesday, July 7th. They set a “market perform” rating on the stock. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $211.00.

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.