GAMMA Investing LLC Purchases 84 Shares of Park National Co. $PRK

GAMMA Investing LLC lifted its holdings in Park National Co. (NYSE:PRK) by 18.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 533 shares of the company’s stock after acquiring an additional 84 shares during the period. GAMMA Investing LLC’s holdings in Park National were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new position in Park National during the 2nd quarter worth approximately $27,000. AlphaQuest LLC bought a new position in Park National in the 1st quarter valued at $93,000. KBC Group NV increased its position in shares of Park National by 11.6% during the 1st quarter. KBC Group NV now owns 878 shares of the company’s stock valued at $133,000 after purchasing an additional 91 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Park National during the first quarter valued at about $208,000. Finally, Contravisory Investment Management Inc. increased its holdings in Park National by 10.0% during the first quarter. Contravisory Investment Management Inc. now owns 1,486 shares of the company’s stock worth $225,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 62.65% of the company’s stock.

Park National Price Performance

Park National stock opened at $161.25 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95. Park National Co. has a one year low of $137.97 and a one year high of $207.99. The firm has a market capitalization of $2.59 billion, a P/E ratio of 17.32 and a beta of 0.72. The business has a fifty day moving average price of $166.97 and a 200-day moving average price of $162.34.

Park National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, August 15th. Park National’s dividend payout ratio (DPR) is 41.59%.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial started coverage on shares of Park National in a research note on Monday, July 21st. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $177.75.

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.