Wealth Enhancement Advisory Services LLC Boosts Stock Position in Park National Co. (NYSE:PRK)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Park National Co. (NYSE:PRK) by 85.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,826 shares of the company’s stock after buying an additional 1,304 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Park National were worth $484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PRK. Smartleaf Asset Management LLC grew its position in shares of Park National by 162.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 181 shares of the company’s stock valued at $31,000 after buying an additional 112 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Park National by 808.0% in the fourth quarter. Sterling Capital Management LLC now owns 454 shares of the company’s stock valued at $78,000 after acquiring an additional 404 shares in the last quarter. Signaturefd LLC boosted its stake in Park National by 9.7% in the fourth quarter. Signaturefd LLC now owns 692 shares of the company’s stock valued at $119,000 after acquiring an additional 61 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Park National during the fourth quarter worth about $201,000. Finally, CoreCap Advisors LLC increased its position in shares of Park National by 801.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,244 shares of the company’s stock worth $213,000 after purchasing an additional 1,106 shares in the last quarter. 62.65% of the stock is owned by hedge funds and other institutional investors.

Park National Price Performance

Shares of NYSE:PRK opened at $162.87 on Friday. Park National Co. has a one year low of $133.38 and a one year high of $207.99. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 17.49 and a beta of 0.82. The company has a 50-day simple moving average of $156.57 and a 200-day simple moving average of $164.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94.

Park National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Friday, May 16th. Park National’s dividend payout ratio (DPR) is presently 43.94%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PRK shares. Keefe, Bruyette & Woods upped their target price on Park National from $167.00 to $170.00 and gave the company a “market perform” rating in a research report on Wednesday, April 30th. Piper Sandler began coverage on Park National in a report on Thursday, February 20th. They issued a “neutral” rating and a $185.50 price objective for the company. Finally, Wall Street Zen lowered shares of Park National from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st.

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.