Colonial Trust Co SC Invests $2.02 Million in Park National Co. (NYSE:PRK)

Colonial Trust Co SC bought a new position in Park National Co. (NYSE:PRK) during the 4th quarter, HoldingsChannel reports. The fund bought 11,774 shares of the company’s stock, valued at approximately $2,018,000.

Several other institutional investors have also recently added to or reduced their stakes in PRK. Vanguard Group Inc. boosted its stake in Park National by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,701,587 shares of the company’s stock worth $291,703,000 after purchasing an additional 6,432 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Park National by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 495,854 shares of the company’s stock valued at $85,006,000 after acquiring an additional 3,911 shares during the period. Northern Trust Corp boosted its position in shares of Park National by 4.3% during the fourth quarter. Northern Trust Corp now owns 182,808 shares of the company’s stock worth $31,339,000 after buying an additional 7,505 shares during the period. First Trust Advisors LP raised its holdings in Park National by 77.5% during the fourth quarter. First Trust Advisors LP now owns 160,715 shares of the company’s stock worth $27,551,000 after acquiring an additional 70,170 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Park National by 22.8% in the fourth quarter. Invesco Ltd. now owns 107,428 shares of the company’s stock valued at $18,416,000 after purchasing an additional 19,948 shares during the last quarter. 62.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of Park National in a research report on Thursday, February 20th. They set a “neutral” rating and a $185.50 price objective for the company. Keefe, Bruyette & Woods increased their target price on shares of Park National from $167.00 to $170.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 30th.

Park National Stock Up 0.1 %

NYSE PRK opened at $160.05 on Wednesday. Park National Co. has a fifty-two week low of $131.93 and a fifty-two week high of $207.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95. The business has a fifty day moving average price of $151.68 and a two-hundred day moving average price of $168.38. The stock has a market capitalization of $2.59 billion, a PE ratio of 17.19 and a beta of 0.79.

Park National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, May 16th. Park National’s dividend payout ratio (DPR) is presently 43.94%.

About Park National

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.