Sanctuary Advisors LLC Invests $773,000 in Park National Co. $PRK

Sanctuary Advisors LLC acquired a new stake in Park National Co. (NYSE:PRK) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,226 shares of the company’s stock, valued at approximately $773,000.

Other institutional investors also recently modified their holdings of the company. Ballentine Partners LLC boosted its stake in Park National by 3.2% during the fourth quarter. Ballentine Partners LLC now owns 2,090 shares of the company’s stock worth $318,000 after acquiring an additional 64 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Park National by 3.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,926 shares of the company’s stock valued at $293,000 after purchasing an additional 66 shares in the last quarter. LPL Financial LLC increased its stake in Park National by 0.9% in the fourth quarter. LPL Financial LLC now owns 10,844 shares of the company’s stock valued at $1,650,000 after purchasing an additional 92 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Park National by 3.3% during the fourth quarter. ProShare Advisors LLC now owns 2,879 shares of the company’s stock valued at $438,000 after purchasing an additional 93 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Park National by 1.3% during the first quarter. The Manufacturers Life Insurance Company now owns 7,409 shares of the company’s stock valued at $1,211,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 62.65% of the company’s stock.

Analyst Upgrades and Downgrades

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

Park National Stock Performance

PRK opened at $198.12 on Friday. 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’s fifty day moving average price is $194.32 and its two-hundred day moving average price is $177.75. Park National Co. has a 1-year low of $149.06 and a 1-year high of $215.00. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 21.28 and a beta of 0.69.

Park National Dividend Announcement

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