Handelsbanken Fonder AB Acquires 600 Shares of Park National Co. (NYSE:PRK)

Handelsbanken Fonder AB increased its holdings in Park National Co. (NYSE:PRK) by 20.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,565 shares of the company’s stock after purchasing an additional 600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Park National were worth $540,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. 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. GAMMA Investing LLC lifted its position in shares of Park National by 199.3% in the 1st quarter. GAMMA Investing LLC now owns 449 shares of the company’s stock worth $68,000 after purchasing an additional 299 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Park National by 808.0% in the 4th quarter. Sterling Capital Management LLC now owns 454 shares of the company’s stock valued at $78,000 after purchasing an additional 404 shares during the last quarter. Signaturefd LLC increased its position in shares of Park National by 9.7% during the fourth quarter. Signaturefd LLC now owns 692 shares of the company’s stock worth $119,000 after buying an additional 61 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Park National during the fourth quarter worth $201,000. 62.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRK has been the subject of several research analyst reports. Piper Sandler assumed coverage on Park National in a research report on Thursday, February 20th. They issued a “neutral” rating and a $185.50 price objective for the company. Keefe, Bruyette & Woods lifted their target price on Park National from $167.00 to $170.00 and gave the stock a “market perform” rating in a report on Wednesday, April 30th. Finally, Wall Street Zen cut Park National from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st.

Park National Trading Down 3.3%

PRK opened at $157.43 on Monday. The company has a fifty day moving average price of $157.26 and a two-hundred day moving average price of $164.27. Park National Co. has a 1-year low of $133.38 and a 1-year high of $207.99. The company has a market cap of $2.55 billion, a P/E ratio of 16.91 and a beta of 0.82. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Park National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a $1.07 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.28 annualized dividend and a yield of 2.72%. Park National’s payout ratio is currently 43.94%.

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.