Park National Co. (NYSE:PRK) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its holdings in Park National Co. (NYSE:PRK) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 331,628 shares of the company’s stock after selling 2,560 shares during the quarter. Geode Capital Management LLC owned 2.05% of Park National worth $56,865,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PRK. FMR LLC lifted its stake in shares of Park National by 729.6% during the third quarter. FMR LLC now owns 7,815 shares of the company’s stock worth $1,313,000 after buying an additional 6,873 shares during the period. Stifel Financial Corp lifted its position in Park National by 30.4% during the 3rd quarter. Stifel Financial Corp now owns 4,417 shares of the company’s stock worth $742,000 after acquiring an additional 1,029 shares during the period. State Street Corp grew its stake in Park National by 0.5% during the 3rd quarter. State Street Corp now owns 632,567 shares of the company’s stock valued at $106,259,000 after purchasing an additional 3,318 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Park National by 42.5% in the third quarter. Jane Street Group LLC now owns 20,225 shares of the company’s stock valued at $3,397,000 after purchasing an additional 6,031 shares during the period. Finally, Barclays PLC raised its stake in shares of Park National by 161.7% in the third quarter. Barclays PLC now owns 28,528 shares of the company’s stock worth $4,792,000 after purchasing an additional 17,627 shares during the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Analysts Set New Price Targets

PRK has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $178.00 target price (down previously from $187.00) on shares of Park National in a research report on Wednesday, January 29th. Piper Sandler began coverage on shares of Park National in a research note on Thursday, February 20th. They issued a “neutral” rating and a $185.50 price objective on the stock.

Park National Stock Up 1.3 %

Park National stock opened at $143.57 on Monday. The business’s 50-day moving average price is $157.85 and its 200 day moving average price is $170.59. 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 firm has a market cap of $2.32 billion, a price-to-earnings ratio of 15.42 and a beta of 0.72. Park National Co. has a 52 week low of $123.31 and a 52 week high of $207.99.

Park National Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.98%. This is a positive change from Park National’s previous quarterly dividend of $1.06. The ex-dividend date was Friday, February 14th. Park National’s payout ratio is 45.97%.

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.