Swiss National Bank Acquires 3,600 Shares of Park National Co. $PRK

Swiss National Bank raised its holdings in shares of Park National Co. (NYSE:PRK) by 12.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,100 shares of the company’s stock after buying an additional 3,600 shares during the quarter. Swiss National Bank’s holdings in Park National were worth $5,247,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Tudor Investment Corp ET AL raised its stake in Park National by 51.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 32,285 shares of the company’s stock valued at $5,247,000 after purchasing an additional 10,935 shares during the last quarter. SG Americas Securities LLC grew its position in Park National by 249.8% in the 4th quarter. SG Americas Securities LLC now owns 6,299 shares of the company’s stock worth $959,000 after purchasing an additional 4,498 shares during the last quarter. UBS Group AG grew its position in Park National by 15.7% in the 4th quarter. UBS Group AG now owns 64,583 shares of the company’s stock worth $9,828,000 after purchasing an additional 8,777 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Park National by 14.5% during the 1st quarter. Principal Financial Group Inc. now owns 78,087 shares of the company’s stock worth $12,763,000 after purchasing an additional 9,865 shares during the period. Finally, Park National Corp OH increased its holdings in shares of Park National by 9.8% during the 1st quarter. Park National Corp OH now owns 1,155,964 shares of the company’s stock worth $188,942,000 after purchasing an additional 103,142 shares during the period. 62.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PRK has been the subject of a number of research analyst reports. Zacks Research lowered shares of Park National from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Raymond James Financial assumed coverage on Park National in a research note on Tuesday, July 7th. They set a “market perform” rating on the stock. Finally, Piper Sandler upped their price target on Park National from $189.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $198.50.

Park National Stock Up 2.7%

PRK opened at $212.56 on Thursday. Park National Co. has a fifty-two week low of $149.06 and a fifty-two week high of $214.10. 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 firm’s fifty day moving average price is $180.74 and its two-hundred day moving average price is $171.64. The company has a market capitalization of $3.85 billion, a P/E ratio of 22.83 and a beta of 0.69.

Park National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 21st will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 21st. Park National’s dividend payout ratio (DPR) is presently 39.39%.

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.