Geode Capital Management LLC Sells 2,560 Shares of Park National Co. (NYSE:PRK)

Geode Capital Management LLC trimmed its stake in shares of Park National Co. (NYSE:PRK - Free Report) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 331,628 shares of the company's stock after selling 2,560 shares during the quarter. Geode Capital Management LLC owned about 2.05% of Park National worth $56,865,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Signaturefd LLC lifted its position in Park National by 9.7% in the fourth quarter. Signaturefd LLC now owns 692 shares of the company's stock worth $119,000 after purchasing an additional 61 shares during the period. Smartleaf Asset Management LLC boosted its stake in Park National by 162.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 181 shares of the company's stock valued at $31,000 after buying an additional 112 shares in the last quarter. Franklin Resources Inc. grew its holdings in Park National by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 3,606 shares of the company's stock worth $618,000 after acquiring an additional 180 shares during the period. Swiss National Bank lifted its holdings in Park National by 0.6% in the 4th quarter. Swiss National Bank now owns 31,800 shares of the company's stock valued at $5,451,000 after acquiring an additional 200 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its position in shares of Park National by 11.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 2,366 shares of the company's stock valued at $397,000 after purchasing an additional 241 shares in the last quarter. Institutional investors own 62.65% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Piper Sandler assumed coverage on Park National in a research note on Thursday, February 20th. They set a "neutral" rating and a $185.50 price objective for the company. 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 research note on Wednesday, January 29th.

Park National Stock Performance

Shares of Park National stock traded up $2.30 on Tuesday, reaching $144.72. The stock had a trading volume of 34,590 shares, compared to its average volume of 56,636. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. The business's 50-day moving average price is $157.28 and its two-hundred day moving average price is $170.42. The stock has a market cap of $2.34 billion, a P/E ratio of 15.54 and a beta of 0.72. Park National Co. has a fifty-two week low of $123.31 and a fifty-two week high of $207.99.

Park National Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.96%. This is a positive change from Park National's previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, February 14th. Park National's dividend payout ratio is presently 45.97%.

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.