Park National Co. (NYSE:PRK) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its position in Park National Co. (NYSE:PRK - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,701,587 shares of the company's stock after buying an additional 6,432 shares during the quarter. Vanguard Group Inc. owned 10.53% of Park National worth $291,703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PRK. Signaturefd LLC increased its holdings in Park National by 9.7% during the 4th quarter. Signaturefd LLC now owns 692 shares of the company's stock valued at $119,000 after acquiring an additional 61 shares in the last quarter. Smartleaf Asset Management LLC increased its stake 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 worth $31,000 after purchasing an additional 112 shares in the last quarter. Swiss National Bank raised its position in shares of Park National by 0.6% during the 4th quarter. Swiss National Bank now owns 31,800 shares of the company's stock worth $5,451,000 after purchasing an additional 200 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in Park National by 11.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 2,366 shares of the company's stock valued at $397,000 after buying an additional 241 shares in the last quarter. Finally, KBC Group NV lifted its stake in Park National by 55.8% in the 4th quarter. KBC Group NV now owns 787 shares of the company's stock valued at $135,000 after buying an additional 282 shares in the last quarter. Institutional investors and hedge funds own 62.65% of the company's stock.

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Park National Trading Up 7.4 %

PRK stock traded up $10.63 during midday trading on Wednesday, hitting $153.62. The stock had a trading volume of 94,346 shares, compared to its average volume of 56,524. Park National Co. has a 12-month low of $123.08 and a 12-month high of $207.99. The firm has a market cap of $2.48 billion, a PE ratio of 16.50 and a beta of 0.72. The company's 50-day moving average price is $158.88 and its 200 day moving average price is $170.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95.

Park National Increases Dividend

The firm 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 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 2.79%. The ex-dividend date of this dividend was Friday, February 14th. Park National's dividend payout ratio is presently 45.97%.

Analysts Set New Price Targets

PRK has been the subject of a number of analyst reports. Piper Sandler assumed 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. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $178.00 target price (down from $187.00) on shares of Park National in a report 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.