Cypress Wealth Services LLC Buys New Position in Park National Co. $PRK

Cypress Wealth Services LLC purchased a new stake in Park National Co. (NYSE:PRK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,250 shares of the company’s stock, valued at approximately $799,000.

Several other large investors have also bought and sold shares of PRK. Caldwell Trust Co bought a new stake in shares of Park National in the 2nd quarter worth $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of Park National by 629.2% in the second quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock valued at $29,000 after purchasing an additional 151 shares during the last quarter. Quarry LP lifted its position in shares of Park National by 878.3% during the third quarter. Quarry LP now owns 225 shares of the company’s stock valued at $37,000 after purchasing an additional 202 shares in the last quarter. CWM LLC boosted its holdings in Park National by 84.8% during the third quarter. CWM LLC now owns 412 shares of the company’s stock worth $67,000 after purchasing an additional 189 shares during the last quarter. Finally, Salomon & Ludwin LLC grew its position in Park National by 40.7% in the 3rd quarter. Salomon & Ludwin LLC now owns 470 shares of the company’s stock worth $76,000 after purchasing an additional 136 shares in the last quarter. 62.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Zacks Research upgraded shares of Park National from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Piper Sandler upped their target price on Park National from $176.00 to $183.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $181.50.

Park National Price Performance

Park National stock opened at $158.83 on Friday. The business’s 50 day simple moving average is $165.15 and its 200 day simple moving average is $161.08. Park National Co. has a 12 month low of $137.97 and a 12 month high of $179.48. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 17.06 and a beta of 0.72. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Park National Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 20th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, February 20th. Park National’s payout ratio is currently 39.57%.

About Park National

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.