ExodusPoint Capital Management LP Makes New $1.03 Million Investment in Park National Co. (NYSE:PRK)

ExodusPoint Capital Management LP purchased a new stake in shares of Park National Co. (NYSE:PRK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,006 shares of the company's stock, valued at approximately $1,030,000.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in shares of Park National by 162.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 181 shares of the company's stock valued at $31,000 after purchasing an additional 112 shares during the last quarter. Signaturefd LLC increased its holdings in Park National by 9.7% during the fourth quarter. Signaturefd LLC now owns 692 shares of the company's stock worth $119,000 after buying an additional 61 shares during the last quarter. KBC Group NV raised its position in Park National by 55.8% in the fourth quarter. KBC Group NV now owns 787 shares of the company's stock worth $135,000 after acquiring an additional 282 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Park National in the fourth quarter valued at about $201,000. Finally, Cibc World Markets Corp bought a new position in shares of Park National during the 4th quarter valued at approximately $231,000. 62.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PRK has been the topic of a number of research reports. Piper Sandler began coverage on shares of Park National in a report on Thursday, February 20th. They issued a "neutral" rating and a $185.50 price target on the stock. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $178.00 target price (down from $187.00) on shares of Park National in a research note on Wednesday, January 29th.

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Park National Stock Performance

NYSE:PRK traded up $2.13 on Tuesday, reaching $144.55. 9,902 shares of the company's stock were exchanged, compared to its average volume of 56,496. The stock has a fifty day simple moving average of $157.28 and a 200-day simple moving average of $170.42. Park National Co. has a 52 week low of $123.31 and a 52 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 firm has a market cap of $2.34 billion, a price-to-earnings ratio of 15.53 and a beta of 0.72.

Park National Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.96%. This is a positive change from Park National's previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, February 14th. Park National's payout ratio is currently 45.97%.

Park National Company 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.