Geneos Wealth Management Inc. Purchases Shares of 1,511 Park National Co. (NYSE:PRK)

Geneos Wealth Management Inc. acquired a new stake in Park National Co. (NYSE:PRK - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,511 shares of the company's stock, valued at approximately $259,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PRK. State Street Corp raised its position in shares of Park National by 0.5% during the 3rd quarter. State Street Corp now owns 632,567 shares of the company's stock valued at $106,259,000 after acquiring an additional 3,318 shares during the last quarter. Geode Capital Management LLC lifted its stake in Park National by 1.0% in the third quarter. Geode Capital Management LLC now owns 334,188 shares of the company's stock valued at $56,148,000 after buying an additional 3,165 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Park National by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 179,570 shares of the company's stock worth $30,164,000 after buying an additional 2,119 shares during the period. Barclays PLC raised its position in shares of Park National by 161.7% in the 3rd quarter. Barclays PLC now owns 28,528 shares of the company's stock valued at $4,792,000 after acquiring an additional 17,627 shares during the period. Finally, Citigroup Inc. boosted its stake in Park National by 30.6% during the 3rd 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. Institutional investors own 62.65% of the company's stock.

Park National Price Performance

NYSE:PRK traded up $0.32 during mid-day trading on Thursday, reaching $171.80. The stock had a trading volume of 16,771 shares, compared to its average volume of 62,410. Park National Co. has a 12 month low of $123.08 and a 12 month high of $207.99. The stock has a market capitalization of $2.78 billion, a PE ratio of 20.40 and a beta of 0.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50-day simple moving average of $178.72 and a two-hundred day simple moving average of $174.56.

Park National Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Park National's previous quarterly dividend of $1.06. Park National's dividend payout ratio (DPR) is currently 50.18%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $178.00 price target (down previously from $187.00) on shares of Park National in a report on Wednesday.

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.