SG Americas Securities LLC Lowers Holdings in Park National Co. (NYSE:PRK)

SG Americas Securities LLC decreased its holdings in Park National Co. (NYSE:PRK) by 87.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,146 shares of the company’s stock after selling 8,244 shares during the period. SG Americas Securities LLC’s holdings in Park National were worth $152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRK. JPMorgan Chase & Co. grew its holdings in shares of Park National by 47.8% during the 1st quarter. JPMorgan Chase & Co. now owns 13,739 shares of the company’s stock worth $1,805,000 after purchasing an additional 4,446 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Park National by 105.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,910 shares of the company’s stock worth $1,171,000 after purchasing an additional 4,577 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Park National by 55.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,759 shares of the company’s stock worth $888,000 after purchasing an additional 2,400 shares during the period. Cetera Advisor Networks LLC grew its holdings in shares of Park National by 9.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,791 shares of the company’s stock worth $235,000 after purchasing an additional 150 shares during the period. Finally, Citigroup Inc. grew its holdings in shares of Park National by 12.7% during the 1st quarter. Citigroup Inc. now owns 12,662 shares of the company’s stock worth $1,664,000 after purchasing an additional 1,424 shares during the period. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler began coverage on Park National in a report on Friday, February 23rd. They set a “neutral” rating and a $130.00 target price for the company.

Park National Stock Up 0.5 %

NYSE PRK opened at $125.91 on Tuesday. The stock has a market cap of $2.03 billion, a PE ratio of 16.14 and a beta of 0.70. Park National Co. has a fifty-two week low of $90.28 and a fifty-two week high of $137.26. The business has a 50 day moving average price of $129.80 and a two-hundred day moving average price of $121.24. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.17.

Park National (NYSE:PRK) last released its quarterly earnings results on Monday, January 22nd. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.09. The firm had revenue of $140.73 million during the quarter, compared to analysts’ expectations of $119.14 million. Park National had a return on equity of 12.17% and a net margin of 22.46%. As a group, sell-side analysts predict that Park National Co. will post 7.6 EPS for the current fiscal year.

Park National Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 16th were issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Thursday, February 15th. This is a boost from Park National’s previous quarterly dividend of $1.05. Park National’s dividend payout ratio is currently 54.36%.

About Park National

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.