Park National Co. (NYSE:PRK) Stock Holdings Decreased by Spreng Capital Management Inc.

Spreng Capital Management Inc. trimmed its holdings in Park National Co. (NYSE:PRK - Free Report) by 68.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,370 shares of the company's stock after selling 2,977 shares during the period. Spreng Capital Management Inc.'s holdings in Park National were worth $235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Park National by 427.9% during the fourth quarter. JPMorgan Chase & Co. now owns 64,482 shares of the company's stock valued at $11,054,000 after acquiring an additional 52,268 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Park National during the 4th quarter worth about $3,673,000. Invesco Ltd. increased its position in Park National by 22.8% during the 4th quarter. Invesco Ltd. now owns 107,428 shares of the company's stock worth $18,416,000 after purchasing an additional 19,948 shares in the last quarter. Barclays PLC raised its holdings 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. Finally, Matauro LLC acquired a new position in Park National during the fourth quarter valued at approximately $2,203,000. Hedge funds and other institutional investors own 62.65% of the company's stock.

Park National Stock Down 2.3 %

NYSE:PRK traded down $3.25 on Monday, reaching $140.32. The stock had a trading volume of 11,039 shares, compared to its average volume of 56,553. Park National Co. has a 12-month low of $123.31 and a 12-month high of $207.99. The stock has a market cap of $2.27 billion, a P/E ratio of 15.07 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. The company has a 50-day moving average of $157.85 and a 200 day moving average of $170.59.

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Park National Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.05%. 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%.

Wall Street Analyst Weigh In

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

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.