Blue Trust Inc. Has $286,000 Position in Park National Co. (NYSE:PRK)

Blue Trust Inc. lowered its position in Park National Co. (NYSE:PRK - Free Report) by 65.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,701 shares of the company's stock after selling 3,228 shares during the period. Blue Trust Inc.'s holdings in Park National were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PRK. Barclays PLC grew its holdings in shares of Park National by 161.7% during the third quarter. Barclays PLC now owns 28,528 shares of the company's stock worth $4,792,000 after purchasing an additional 17,627 shares during the last quarter. FMR LLC grew its holdings in Park National by 729.6% during the 3rd 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. Jane Street Group LLC increased its position in Park National by 42.5% in the 3rd quarter. Jane Street Group LLC now owns 20,225 shares of the company's stock valued at $3,397,000 after acquiring an additional 6,031 shares in the last quarter. Citigroup Inc. raised its stake in shares of Park National by 30.6% in the third quarter. Citigroup Inc. now owns 23,113 shares of the company's stock worth $3,883,000 after acquiring an additional 5,416 shares during the last quarter. Finally, Arbor Investment Advisors LLC acquired a new position in shares of Park National during the third quarter worth approximately $687,000. 62.65% of the stock is owned by institutional investors and hedge funds.

Park National Trading Down 2.2 %

NYSE PRK traded down $3.59 during trading hours on Friday, hitting $163.24. The company's stock had a trading volume of 38,368 shares, compared to its average volume of 40,716. Park National Co. has a twelve month low of $123.08 and a twelve month high of $207.99. The firm has a market capitalization of $2.64 billion, a P/E ratio of 17.53 and a beta of 0.73. 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 stock has a fifty day moving average of $171.56 and a 200 day moving average of $174.04.

Park National Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.07 dividend. This is a positive change from Park National's previous quarterly dividend of $1.06. This represents a $4.28 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, February 14th. Park National's dividend payout ratio (DPR) is currently 45.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler started coverage on shares of Park National in a research report on Thursday. They issued a "neutral" rating and a $185.50 price objective for the company. Keefe, Bruyette & Woods restated a "market perform" rating and set a $178.00 target price (down previously from $187.00) on shares of Park National in a research report on Wednesday, January 29th.

Park National Profile

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.