Janney Montgomery Scott LLC Has $929,000 Position in Park National Co. $PRK

Janney Montgomery Scott LLC lifted its holdings in shares of Park National Co. (NYSE:PRK) by 7.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,554 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Park National were worth $929,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PRK. Livelsberger Financial Advisory acquired a new stake in shares of Park National during the second quarter worth about $27,000. GAMMA Investing LLC raised its position in shares of Park National by 199.3% during the first 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. AlphaQuest LLC acquired a new stake in shares of Park National during the first quarter worth about $93,000. KBC Group NV raised its position in shares of Park National by 11.6% during the first quarter. KBC Group NV now owns 878 shares of the company’s stock worth $133,000 after purchasing an additional 91 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Park National in the 1st quarter valued at approximately $208,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

Park National Stock Up 3.3%

PRK stock opened at $162.00 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $166.47 and a two-hundred day moving average price of $162.66. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 17.40 and a beta of 0.72. Park National Co. has a twelve month low of $137.97 and a twelve month high of $207.99.

Park National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, August 15th. Park National’s dividend payout ratio (DPR) is currently 41.59%.

Analyst Ratings Changes

Separately, Raymond James Financial started coverage on Park National in a research report on Monday, July 21st. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Park National 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.