Raymond James & Associates Buys 5,516 Shares of Park National Co. (NYSE:PRK)

Raymond James & Associates increased its holdings in Park National Co. (NYSE:PRK) by 60.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,589 shares of the company’s stock after acquiring an additional 5,516 shares during the period. Raymond James & Associates owned about 0.09% of Park National worth $1,938,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Park National by 1.3% during the third quarter. Vanguard Group Inc. now owns 1,601,843 shares of the company’s stock valued at $199,397,000 after purchasing an additional 20,598 shares during the period. State Street Corp lifted its position in shares of Park National by 8.0% during the first quarter. State Street Corp now owns 580,213 shares of the company’s stock worth $68,796,000 after acquiring an additional 43,116 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Park National by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 409,608 shares of the company’s stock worth $48,565,000 after acquiring an additional 28,619 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Park National by 2.3% during the second quarter. Geode Capital Management LLC now owns 281,835 shares of the company’s stock worth $28,837,000 after acquiring an additional 6,238 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Park National by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 173,204 shares of the company’s stock worth $21,562,000 after acquiring an additional 4,373 shares in the last quarter. 62.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler began coverage on Park National in a research report on Friday, February 23rd. They set a “neutral” rating and a $130.00 target price on the stock.

Park National Stock Up 0.4 %

PRK opened at $124.75 on Thursday. The stock has a market cap of $2.01 billion, a PE ratio of 15.99 and a beta of 0.70. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.17. Park National Co. has a 52 week low of $90.28 and a 52 week high of $137.26. The business’s fifty day simple moving average is $129.68 and its 200 day simple moving average is $121.47.

Park National (NYSE:PRK) last released its earnings results on Monday, January 22nd. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.09. The business had revenue of $140.73 million for the quarter, compared to analysts’ expectations of $119.14 million. Park National had a return on equity of 12.17% and a net margin of 22.46%. As a group, research analysts expect that Park National Co. will post 7.6 earnings per share for the current fiscal year.

Park National Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 16th were paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Thursday, February 15th. This is a boost from Park National’s previous quarterly dividend of $1.05. Park National’s dividend payout ratio is currently 54.36%.

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.