JPMorgan Chase & Co. Purchases 52,268 Shares of Park National Co. (NYSE:PRK)

JPMorgan Chase & Co. increased its stake in shares of Park National Co. (NYSE:PRK - Free Report) by 427.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,482 shares of the company's stock after buying an additional 52,268 shares during the period. JPMorgan Chase & Co. owned 0.40% of Park National worth $11,054,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC raised 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 acquiring an additional 112 shares during the last quarter. Signaturefd LLC grew its stake in shares of Park National by 9.7% during the 4th quarter. Signaturefd LLC now owns 692 shares of the company's stock worth $119,000 after acquiring an additional 61 shares in the last quarter. KBC Group NV boosted its stake in shares of Park National by 55.8% during the 4th quarter. KBC Group NV now owns 787 shares of the company's stock worth $135,000 after buying an additional 282 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Park National during the fourth quarter valued at approximately $201,000. Finally, Cibc World Markets Corp bought a new position in shares of Park National in the fourth quarter valued at $231,000. Institutional investors and hedge funds own 62.65% of the company's stock.

Park National Stock Up 0.1 %

PRK stock traded up $0.18 during mid-day trading on Friday, reaching $143.82. 29,833 shares of the company traded hands, compared to its average volume of 56,671. Park National Co. has a fifty-two week low of $129.18 and a fifty-two week high of $207.99. 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 firm's 50 day moving average price is $155.04 and its 200 day moving average price is $169.83. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 15.45 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. Shareholders 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 2.98%. The ex-dividend date was Friday, February 14th. This is an increase from Park National's previous quarterly dividend of $1.06. Park National's dividend payout ratio is 45.97%.

Analysts Set New Price Targets

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

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.