New York State Teachers Retirement System Sells 519 Shares of Park National Co. (NYSE:PRK)

New York State Teachers Retirement System reduced its stake in Park National Co. (NYSE:PRK) by 12.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,658 shares of the company’s stock after selling 519 shares during the period. New York State Teachers Retirement System’s holdings in Park National were worth $486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PRK. JPMorgan Chase & Co. boosted its stake in shares of Park National by 47.8% in the first quarter. JPMorgan Chase & Co. now owns 13,739 shares of the company’s stock valued at $1,805,000 after buying an additional 4,446 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Park National by 105.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,910 shares of the company’s stock valued at $1,171,000 after purchasing an additional 4,577 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Park National by 55.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,759 shares of the company’s stock valued at $888,000 after purchasing an additional 2,400 shares in the last quarter. Cetera Advisor Networks LLC raised its position in Park National by 9.1% during the first quarter. Cetera Advisor Networks LLC now owns 1,791 shares of the company’s stock valued at $235,000 after purchasing an additional 150 shares in the last quarter. Finally, Citigroup Inc. raised its position in Park National by 12.7% during the first quarter. Citigroup Inc. now owns 12,662 shares of the company’s stock valued at $1,664,000 after purchasing an additional 1,424 shares in the last quarter. 62.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler assumed coverage on shares of Park National in a research report on Friday, February 23rd. They set a “neutral” rating and a $130.00 price objective for the company.

Park National Stock Up 0.4 %

Shares of NYSE:PRK opened at $125.27 on Friday. The company has a fifty day moving average of $129.62 and a 200-day moving average of $121.50. The company has a market capitalization of $2.02 billion, a PE ratio of 16.06 and a beta of 0.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.91 and a current ratio of 0.91. Park National Co. has a 52-week low of $90.28 and a 52-week high of $137.26.

Park National (NYSE:PRK) last announced its quarterly earnings results on Monday, January 22nd. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.09. The company had revenue of $140.73 million during the quarter, compared to the consensus estimate of $119.14 million. Park National had a net margin of 22.46% and a return on equity of 12.17%. On average, equities analysts predict that Park National Co. will post 7.6 EPS for the current fiscal year.

Park National Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 16th were issued a dividend of $1.06 per share. The ex-dividend date was Thursday, February 15th. This is an increase from Park National’s previous quarterly dividend of $1.05. This represents a $4.24 annualized dividend and a dividend yield of 3.38%. Park National’s dividend payout ratio is 54.36%.

Park National Profile

Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in small and medium population areas. The company offers deposits for demand, savings, and time accounts; trust and wealth management services; cash management services; safe deposit operations; electronic funds transfers; Internet and mobile banking solutions with bill pay service; credit cards; and various additional banking-related services.