UBS Group AG Has $9.83 Million Holdings in Park National Co. $PRK

UBS Group AG increased its position in shares of Park National Co. (NYSE:PRK) by 15.7% in the 4th quarter, HoldingsChannel reports. The firm owned 64,583 shares of the company’s stock after acquiring an additional 8,777 shares during the quarter. UBS Group AG’s holdings in Park National were worth $9,828,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PRK. Tudor Investment Corp ET AL increased its stake in shares of Park National by 51.2% in the third quarter. Tudor Investment Corp ET AL now owns 32,285 shares of the company’s stock valued at $5,247,000 after buying an additional 10,935 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Park National by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 55,782 shares of the company’s stock valued at $9,066,000 after buying an additional 6,074 shares during the period. SG Americas Securities LLC increased its stake in shares of Park National by 249.8% in the fourth quarter. SG Americas Securities LLC now owns 6,299 shares of the company’s stock valued at $959,000 after buying an additional 4,498 shares during the period. Berkshire Money Management Inc. acquired a new stake in Park National during the 4th quarter valued at approximately $491,000. Finally, Cypress Wealth Services LLC acquired a new stake in Park National during the 4th quarter valued at approximately $799,000. Institutional investors own 62.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Zacks Research downgraded shares of Park National from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Piper Sandler increased their target price on shares of Park National from $183.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $184.00.

Park National Stock Performance

Shares of PRK stock opened at $163.84 on Friday. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 17.60 and a beta of 0.71. Park National Co. has a 52 week low of $149.06 and a 52 week high of $179.48. 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 50 day moving average of $166.05 and a 200-day moving average of $162.89.

Park National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.40 annualized dividend and a dividend yield of 2.7%. Park National’s dividend payout ratio (DPR) is 40.33%.

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.