Janney Montgomery Scott LLC Acquires 3,599 Shares of Park National Co. (NYSE:PRK)

Janney Montgomery Scott LLC raised its stake in shares of Park National Co. (NYSE:PRK - Free Report) by 236.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,124 shares of the company's stock after buying an additional 3,599 shares during the quarter. Janney Montgomery Scott LLC's holdings in Park National were worth $878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp grew its stake in Park National by 0.5% during the third 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Park National by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 334,188 shares of the company's stock valued at $56,148,000 after purchasing an additional 3,165 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Park National by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 179,570 shares of the company's stock valued at $30,164,000 after purchasing an additional 2,119 shares in the last quarter. Barclays PLC increased its holdings in shares of Park National by 161.7% in 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. Finally, Citigroup Inc. lifted its position 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 buying an additional 5,416 shares in the last quarter. Institutional investors own 62.65% of the company's stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods restated a "market perform" rating and set a $178.00 price target (down previously from $187.00) on shares of Park National in a report on Wednesday, January 29th.

Park National Price Performance

PRK stock traded up $1.03 during trading on Monday, hitting $170.82. 55,905 shares of the company's stock traded hands, compared to its average volume of 58,685. Park National Co. has a 52 week low of $123.08 and a 52 week high of $207.99. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 18.35 and a beta of 0.73. The business has a fifty day simple moving average of $175.31 and a 200 day simple moving average of $174.53. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94.

Park National Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.07 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $4.28 annualized dividend and a yield of 2.51%. This is a positive change from Park National's previous quarterly dividend of $1.06. Park National's dividend payout ratio (DPR) is currently 45.54%.

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.