Park National Co. (NYSE:PRK) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC trimmed its position in Park National Co. (NYSE:PRK) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,861 shares of the company’s stock after selling 1,425 shares during the period. Corient Private Wealth LLC’s holdings in Park National were worth $2,719,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PRK. Smartleaf Asset Management LLC raised its position in shares of Park National by 162.3% in 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 during the last quarter. KBC Group NV raised its holdings 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 acquiring an additional 282 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Park National during the 4th quarter worth $201,000. Colton Groome Financial Advisors LLC acquired a new stake in shares of Park National during the fourth quarter worth $236,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Park National in the fourth quarter valued at $240,000. 62.65% of the stock is owned by institutional investors and hedge funds.

Park National Trading Down 0.0 %

NYSE:PRK opened at $153.83 on Monday. The business’s 50-day moving average is $164.67 and its two-hundred day moving average is $173.01. The firm has a market capitalization of $2.49 billion, a PE ratio of 16.52 and a beta of 0.72. Park National Co. has a 12 month low of $123.08 and a 12 month high of $207.99. 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. Stockholders of record on Friday, February 14th were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.78%. This is a positive change from Park National’s previous quarterly dividend of $1.06. The ex-dividend date was Friday, February 14th. Park National’s payout ratio is presently 45.97%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PRK shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $178.00 target price (down from $187.00) on shares of Park National in a research report on Wednesday, January 29th. Piper Sandler initiated coverage on shares of Park National in a report on Thursday, February 20th. They set a “neutral” rating and a $185.50 price objective on the stock.

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.