Kennondale Capital Management LLC Invests $493,000 in Park National Co. (NYSE:PRK)

Kennondale Capital Management LLC bought a new stake in shares of Park National Co. (NYSE:PRK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,878 shares of the company's stock, valued at approximately $493,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PRK. Raymond James Financial Inc. bought a new position in shares of Park National in the 4th quarter worth approximately $3,673,000. Barclays PLC grew its position in shares of Park National by 161.7% during the third quarter. Barclays PLC now owns 28,528 shares of the company's stock valued at $4,792,000 after purchasing an additional 17,627 shares in the last quarter. Matauro LLC bought a new position in shares of Park National in the 4th quarter valued at about $2,203,000. FMR LLC lifted its stake in Park National by 729.6% in the third quarter. FMR LLC now owns 7,815 shares of the company's stock worth $1,313,000 after purchasing an additional 6,873 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Park National by 42.5% in the third quarter. Jane Street Group LLC now owns 20,225 shares of the company's stock worth $3,397,000 after purchasing an additional 6,031 shares during the last quarter. Institutional investors own 62.65% of the company's stock.

Park National Stock Down 0.0 %

PRK stock traded down $0.02 during trading on Friday, hitting $153.83. 253,906 shares of the company's stock traded hands, compared to its average volume of 53,113. The firm has a market capitalization of $2.49 billion, a P/E ratio of 16.52 and a beta of 0.72. The business has a fifty day simple moving average of $164.67 and a two-hundred day simple moving average of $172.96. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. Park National Co. has a 1 year low of $123.08 and a 1 year high of $207.99.

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Park National Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.07 dividend. This is a positive change from Park National's previous quarterly dividend of $1.06. This represents a $4.28 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Friday, February 14th. Park National's payout ratio is currently 45.97%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PRK shares. Piper Sandler started coverage on shares of Park National in a research note on Thursday, February 20th. They set a "neutral" rating and a $185.50 price target for the company. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $178.00 price target (down previously from $187.00) on shares of Park National in a research note on Wednesday, January 29th.

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.