Park National Co. $PRK Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP increased its stake in Park National Co. (NYSE:PRK) by 251.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,078 shares of the company’s stock after purchasing an additional 12,212 shares during the period. Quantinno Capital Management LP’s holdings in Park National were worth $2,792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PRK. EverSource Wealth Advisors LLC increased its position in Park National by 629.2% in the second quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock worth $29,000 after buying an additional 151 shares during the period. Danske Bank A S grew its position in shares of Park National by 100.0% during the fourth quarter. Danske Bank A S now owns 200 shares of the company’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Quarry LP increased its holdings in shares of Park National by 878.3% in the 3rd quarter. Quarry LP now owns 225 shares of the company’s stock worth $37,000 after acquiring an additional 202 shares during the period. Sarver Vrooman Wealth Advisors bought a new stake in Park National in the 4th quarter valued at about $46,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in Park National in the 4th quarter valued at about $76,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler upped their target price on shares of Park National from $189.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods lifted their price target on Park National from $180.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. Finally, Raymond James Financial began coverage on Park National in a research report on Tuesday, July 7th. They set a “market perform” rating for the company. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $211.00.

Park National Stock Performance

Shares of Park National stock opened at $203.40 on Monday. Park National Co. has a fifty-two week low of $149.06 and a fifty-two week high of $215.00. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $185.89 and a 200-day simple moving average of $173.98. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 21.85 and a beta of 0.69.

Park National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 21st will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, August 21st. Park National’s dividend payout ratio (DPR) is presently 39.39%.

About Park National

Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company’s main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.

Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.