21,427 Shares in Park National Co. (NYSE:PRK) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of Park National Co. (NYSE:PRK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,427 shares of the company's stock, valued at approximately $3,673,000. Raymond James Financial Inc. owned approximately 0.13% of Park National at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Park National by 0.5% in the 3rd quarter. State Street Corp now owns 632,567 shares of the company's stock valued at $106,259,000 after purchasing an additional 3,318 shares during the period. Citigroup Inc. increased its position in Park National by 30.6% during 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 during the last quarter. Barclays PLC raised its stake in Park National by 161.7% in the third quarter. Barclays PLC now owns 28,528 shares of the company's stock valued at $4,792,000 after buying an additional 17,627 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Park National in the third quarter valued at approximately $591,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Park National by 39.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,062 shares of the company's stock worth $682,000 after acquiring an additional 1,144 shares during the period. Institutional investors and hedge funds own 62.65% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PRK. Keefe, Bruyette & Woods restated 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. Piper Sandler began coverage on shares of Park National in a research report on Thursday, February 20th. They issued a "neutral" rating and a $185.50 price objective on the stock.

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Park National Stock Performance

Shares of NYSE:PRK traded down $1.14 during trading on Monday, reaching $151.40. 79,986 shares of the stock were exchanged, compared to its average volume of 55,466. The firm has a market cap of $2.45 billion, a PE ratio of 16.26 and a beta of 0.72. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Park National Co. has a 12 month low of $123.08 and a 12 month high of $207.99. The stock has a 50-day moving average price of $162.84 and a 200-day moving average price of $172.55.

Park National Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.07 per share. The ex-dividend date was Friday, February 14th. This represents a $4.28 dividend on an annualized basis and a yield of 2.83%. This is an increase from Park National's previous quarterly dividend of $1.06. Park National's dividend payout ratio is currently 45.97%.

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.