Park National Co. (NYSE:PRK) Shares Acquired by Invesco Ltd.

Invesco Ltd. lifted its stake in shares of Park National Co. (NYSE:PRK - Free Report) by 22.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,428 shares of the company's stock after acquiring an additional 19,948 shares during the quarter. Invesco Ltd. owned 0.66% of Park National worth $18,416,000 as of its most recent filing with the Securities and Exchange Commission.

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

Park National Stock Down 0.3 %

Shares of Park National stock traded down $0.49 during trading hours on Thursday, hitting $147.42. The company had a trading volume of 3,968 shares, compared to its average volume of 56,296. The company's 50-day moving average is $153.69 and its two-hundred day moving average is $169.43. Park National Co. has a twelve month low of $131.71 and a twelve month 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 cap of $2.38 billion, a P/E ratio of 15.82 and a beta of 0.72.

Park National Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.07 per share. This is a positive change from Park National's previous quarterly dividend of $1.06. The ex-dividend date was Friday, February 14th. This represents a $4.28 annualized dividend and a dividend yield of 2.90%. Park National's dividend payout ratio (DPR) is presently 45.97%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $178.00 price objective (down from $187.00) on shares of Park National in a report on Wednesday, January 29th. Piper Sandler started coverage on Park National in a report on Thursday, February 20th. They set a "neutral" rating and a $185.50 price target for the company.

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.