Capstone Investment Advisors LLC Acquires Shares of 3,571 Park National Co. $PRK

Capstone Investment Advisors LLC bought a new stake in Park National Co. (NYSE:PRK) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 3,571 shares of the company’s stock, valued at approximately $653,000.

Several other large investors have also made changes to their positions in PRK. MassMutual Private Wealth & Trust FSB lifted its holdings in Park National by 253.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 152 shares of the company’s stock valued at $28,000 after purchasing an additional 109 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Park National by 629.2% during the second quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock worth $29,000 after buying an additional 151 shares during the last quarter. Danske Bank A S grew its stake in Park National by 100.0% during the fourth quarter. Danske Bank A S now owns 200 shares of the company’s stock worth $30,000 after buying an additional 100 shares during the last quarter. Quarry LP increased its holdings in shares of Park National by 878.3% during the third quarter. Quarry LP now owns 225 shares of the company’s stock worth $37,000 after buying an additional 202 shares in the last quarter. Finally, Sarver Vrooman Wealth Advisors acquired a new stake in shares of Park National during the fourth quarter worth approximately $46,000. Institutional investors own 62.65% of the company’s stock.

Park National Stock Up 0.0%

Shares of NYSE PRK opened at $198.12 on Friday. The firm’s 50-day simple moving average is $194.32 and its 200 day simple moving average is $177.75. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 21.28 and a beta of 0.69. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. Park National Co. has a 12-month low of $149.06 and a 12-month high of $215.00.

Park National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders 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 2.2%. Park National’s payout ratio is currently 39.39%.

Wall Street Analysts Forecast Growth

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

Park National Company 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.