Berkshire Money Management Inc. Takes Position in Park National Co. $PRK

Berkshire Money Management Inc. bought a new stake in Park National Co. (NYSE:PRK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,228 shares of the company’s stock, valued at approximately $491,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Park National by 629.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock valued at $29,000 after buying an additional 151 shares in the last quarter. Quarry LP raised its position in shares of Park National by 878.3% in the 3rd quarter. Quarry LP now owns 225 shares of the company’s stock valued at $37,000 after buying an additional 202 shares in the last quarter. CWM LLC raised its position in shares of Park National by 84.8% in the 3rd quarter. CWM LLC now owns 412 shares of the company’s stock valued at $67,000 after buying an additional 189 shares in the last quarter. Salomon & Ludwin LLC raised its position in shares of Park National by 40.7% in the 3rd quarter. Salomon & Ludwin LLC now owns 470 shares of the company’s stock valued at $76,000 after buying an additional 136 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of Park National in the 4th quarter valued at approximately $76,000. 62.65% of the stock is currently owned by institutional investors and hedge funds.

Park National Price Performance

PRK stock opened at $175.33 on Monday. The company has a 50 day simple moving average of $166.00 and a 200 day simple moving average of $161.29. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 18.83 and a beta of 0.70. Park National Co. has a 1 year low of $140.12 and a 1 year high of $179.48. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, February 20th. Park National’s dividend payout ratio is 39.57%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Zacks Research cut shares of Park National from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Piper Sandler boosted their target price on shares of Park National from $176.00 to $183.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Park National currently has a consensus rating of “Hold” and an average target price of $181.50.

Park National Company Profile

Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company’s main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.

Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.