Nisa Investment Advisors LLC Buys 609 Shares of Park National Co. (NYSE:PRK)

Nisa Investment Advisors LLC grew its stake in shares of Park National Co. (NYSE:PRK) by 60.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,609 shares of the company’s stock after purchasing an additional 609 shares during the period. Nisa Investment Advisors LLC’s holdings in Park National were worth $214,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Rhumbline Advisers boosted its stake in Park National by 9.6% during the third quarter. Rhumbline Advisers now owns 48,244 shares of the company’s stock worth $4,560,000 after acquiring an additional 4,225 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Park National by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 156,808 shares of the company’s stock worth $14,821,000 after acquiring an additional 7,655 shares in the last quarter. Illinois Municipal Retirement Fund bought a new stake in Park National during the third quarter worth about $803,000. Mariner LLC boosted its stake in Park National by 11.0% during the third quarter. Mariner LLC now owns 10,853 shares of the company’s stock worth $1,026,000 after acquiring an additional 1,077 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Park National by 7.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,414 shares of the company’s stock worth $1,384,000 after acquiring an additional 753 shares in the last quarter. Institutional investors own 62.65% of the company’s stock.

Park National Stock Up 2.2 %

Shares of Park National stock opened at $128.01 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $2.06 billion, a PE ratio of 16.41 and a beta of 0.70. Park National Co. has a 52-week low of $90.28 and a 52-week high of $137.26. The company has a 50-day simple moving average of $129.54 and a two-hundred day simple moving average of $121.74.

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

Park National Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 16th were issued a $1.06 dividend. The ex-dividend date was Thursday, February 15th. This is a boost from Park National’s previous quarterly dividend of $1.05. This represents a $4.24 annualized dividend and a yield of 3.31%. Park National’s payout ratio is 54.36%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler started coverage on shares of Park National in a research note on Friday, February 23rd. They set a “neutral” rating and a $130.00 price objective on the stock.

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.