Park National Co. (NYSE:PRK) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its position in Park National Co. (NYSE:PRK - Free Report) by 10.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,027 shares of the company's stock after purchasing an additional 3,564 shares during the period. American Century Companies Inc. owned about 0.23% of Park National worth $6,348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRK. FMR LLC raised its holdings in shares of Park National by 729.6% in the third quarter. FMR LLC now owns 7,815 shares of the company's stock worth $1,313,000 after acquiring an additional 6,873 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Park National by 39.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,062 shares of the company's stock worth $682,000 after purchasing an additional 1,144 shares during the period. Stifel Financial Corp boosted its holdings in shares of Park National by 30.4% during the third quarter. Stifel Financial Corp now owns 4,417 shares of the company's stock worth $742,000 after purchasing an additional 1,029 shares during the last quarter. State Street Corp grew its position in shares of Park National by 0.5% in the third quarter. State Street Corp now owns 632,567 shares of the company's stock valued at $106,259,000 after purchasing an additional 3,318 shares during the period. Finally, Jane Street Group LLC boosted its stake in Park National by 42.5% in the 3rd quarter. Jane Street Group LLC now owns 20,225 shares of the company's stock worth $3,397,000 after buying an additional 6,031 shares during the last quarter. 62.65% of the stock is owned by institutional investors and hedge funds.

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Park National Trading Up 7.4 %

PRK stock traded up $10.63 during midday trading on Wednesday, reaching $153.62. 94,346 shares of the company's stock traded hands, compared to its average volume of 56,524. The business has a 50-day moving average price of $158.88 and a two-hundred day moving average price of $170.89. Park National Co. has a fifty-two week low of $123.08 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 company has a market capitalization of $2.48 billion, a P/E ratio of 16.50 and a beta of 0.72.

Park National Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.07 dividend. The ex-dividend date was Friday, February 14th. This is a positive change from Park National's previous quarterly dividend of $1.06. This represents a $4.28 annualized dividend and a yield of 2.79%. Park National's dividend payout ratio (DPR) is 45.97%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PRK. Piper Sandler initiated coverage on shares of Park National in a report on Thursday, February 20th. They set a "neutral" rating and a $185.50 price objective on the stock. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $178.00 target price (down from $187.00) on shares of Park National in a research report on Wednesday, January 29th.

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.