5,620 Shares in Park National Co. $PRK Acquired by Hamilton Capital LLC

Hamilton Capital LLC acquired a new stake in Park National Co. (NYSE:PRK) during the second quarter, HoldingsChannel reports. The fund acquired 5,620 shares of the company’s stock, valued at approximately $1,028,000.

A number of other institutional investors have also recently bought and sold shares of PRK. BlackRock Inc. bought a new stake in shares of Park National during the 2nd quarter valued at $473,814,000. Dimensional Fund Advisors LP boosted its position in shares of Park National by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 517,432 shares of the company’s stock worth $84,570,000 after purchasing an additional 5,859 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Park National by 14.5% in the 1st quarter. Principal Financial Group Inc. now owns 78,087 shares of the company’s stock worth $12,763,000 after purchasing an additional 9,865 shares during the last quarter. UBS Group AG grew its stake in shares of Park National by 15.7% during the fourth quarter. UBS Group AG now owns 64,583 shares of the company’s stock worth $9,828,000 after purchasing an additional 8,777 shares during the period. Finally, Park National Corp OH grew its stake in shares of Park National by 9.8% during the first quarter. Park National Corp OH now owns 1,155,964 shares of the company’s stock worth $188,942,000 after purchasing an additional 103,142 shares during the period. Institutional investors and hedge funds own 62.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PRK has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price on Park National from $180.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 30th. 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. Finally, Piper Sandler upped their price target on Park National from $189.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $211.00.

Park National Trading Down 0.7%

NYSE PRK opened at $198.05 on Friday. Park National Co. has a one year low of $149.06 and a one year high of $215.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95. The firm has a market cap of $3.58 billion, a P/E ratio of 21.27 and a beta of 0.69. The stock’s 50-day moving average is $193.89 and its 200-day moving average is $177.60.

Park National Dividend Announcement

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