Nisa Investment Advisors LLC Increases Stake in Park National Co. (NYSE:PRK)

Nisa Investment Advisors LLC grew its position in Park National Co. (NYSE:PRK) by 60.9% during the 4th quarter, HoldingsChannel reports. The fund owned 1,609 shares of the company’s stock after purchasing an additional 609 shares during the period. Nisa Investment Advisors LLC’s holdings in Park National were worth $214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in shares of Park National in the first quarter valued at $51,000. Royal Bank of Canada raised its stake in shares of Park National by 19.8% in the third quarter. Royal Bank of Canada now owns 582 shares of the company’s stock valued at $73,000 after acquiring an additional 96 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Park National by 82.3% in the second quarter. Tower Research Capital LLC TRC now owns 970 shares of the company’s stock valued at $99,000 after acquiring an additional 438 shares during the period. Numerai GP LLC purchased a new stake in shares of Park National in the third quarter valued at $200,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Park National in the fourth quarter valued at $204,000. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Trading Up 2.2 %

PRK stock opened at $128.01 on Friday. The company has a market capitalization of $2.06 billion, a PE ratio of 16.41 and a beta of 0.70. Park National Co. has a 12 month low of $90.28 and a 12 month high of $137.26. The firm’s 50-day moving average is $129.54 and its 200 day moving average is $121.74. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.91 and a quick ratio of 0.91.

Park National (NYSE:PRK) last posted its quarterly earnings results on Monday, January 22nd. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.91 by $0.09. The company had revenue of $140.73 million for the quarter, compared to the consensus estimate of $119.14 million. Park National had a net margin of 22.46% and a return on equity of 12.17%. On average, research analysts anticipate that Park National Co. will post 7.6 EPS for the current year.

Park National Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 16th were paid a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Park National’s previous quarterly dividend of $1.05. Park National’s dividend payout ratio (DPR) is currently 54.36%.

Analysts Set New Price Targets

Separately, Piper Sandler began coverage on shares of Park National in a research note on Friday, February 23rd. They issued a “neutral” rating and a $130.00 price target on the stock.

Park National 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.