Yousif Capital Management LLC Decreases Position in Park National Co. (NYSE:PRK)

Yousif Capital Management LLC lowered its position in Park National Co. (NYSE:PRK) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,386 shares of the company’s stock after selling 127 shares during the period. Yousif Capital Management LLC’s holdings in Park National were worth $815,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Park National by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,701,587 shares of the company’s stock worth $291,703,000 after buying an additional 6,432 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Park National by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 495,854 shares of the company’s stock valued at $85,006,000 after purchasing an additional 3,911 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Park National by 4.3% in the 4th quarter. Northern Trust Corp now owns 182,808 shares of the company’s stock valued at $31,339,000 after purchasing an additional 7,505 shares during the last quarter. First Trust Advisors LP boosted its stake in Park National by 77.5% during the 4th quarter. First Trust Advisors LP now owns 160,715 shares of the company’s stock worth $27,551,000 after purchasing an additional 70,170 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Park National by 22.8% in the fourth quarter. Invesco Ltd. now owns 107,428 shares of the company’s stock valued at $18,416,000 after purchasing an additional 19,948 shares during the period. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Analyst Ratings Changes

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

Park National Stock Performance

PRK opened at $159.17 on Friday. The business has a fifty day simple moving average of $157.75 and a 200-day simple moving average of $163.77. The firm has a market cap of $2.58 billion, a PE ratio of 17.10 and a beta of 0.82. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. Park National Co. has a fifty-two week low of $134.10 and a fifty-two week high of $207.99.

Park National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid 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 2.69%. Park National’s dividend payout ratio is presently 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.