Wealth Enhancement Advisory Services LLC Boosts Stake in Park National Co. $PRK

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Park National Co. (NYSE:PRK) by 6.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,808 shares of the company’s stock after buying an additional 177 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Park National were worth $498,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRK. Principal Financial Group Inc. grew its position in Park National by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 72,418 shares of the company’s stock valued at $10,964,000 after acquiring an additional 1,895 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Park National by 45,219.3% during the first quarter. GAMMA Investing LLC now owns 67,979 shares of the company’s stock valued at $10,292,000 after purchasing an additional 67,829 shares during the period. Jane Street Group LLC grew its holdings in shares of Park National by 3,571.9% in the first quarter. Jane Street Group LLC now owns 50,342 shares of the company’s stock worth $7,622,000 after purchasing an additional 48,971 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Park National by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 46,104 shares of the company’s stock valued at $6,980,000 after buying an additional 9,900 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Park National during the 1st quarter valued at about $5,972,000. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

Park National Trading Up 0.1%

PRK opened at $161.48 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 17.34 and a beta of 0.72. Park National Co. has a 12 month low of $137.97 and a 12 month high of $207.99. The stock has a fifty day moving average price of $166.88 and a 200-day moving average price of $162.51.

Park National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued 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 currently 41.59%.

Wall Street Analyst Weigh In

Separately, Raymond James Financial began coverage on shares of Park National in a research note on Monday, July 21st. They issued a “market perform” rating on the stock. Three equities 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 price target of $177.75.

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.