New York State Common Retirement Fund Increases Stock Position in Park National Co. (NYSE:PRK)

New York State Common Retirement Fund lifted its position in shares of Park National Co. (NYSE:PRK) by 13.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,021 shares of the company’s stock after buying an additional 600 shares during the period. New York State Common Retirement Fund’s holdings in Park National were worth $861,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PRK. Barclays PLC increased its stake in Park National by 161.7% during the third quarter. Barclays PLC now owns 28,528 shares of the company’s stock worth $4,792,000 after acquiring an additional 17,627 shares during the last quarter. FMR LLC increased its position in Park National by 729.6% during the 3rd quarter. FMR LLC now owns 7,815 shares of the company’s stock worth $1,313,000 after purchasing an additional 6,873 shares in the last quarter. Jane Street Group LLC raised its holdings in Park National by 42.5% in the third quarter. Jane Street Group LLC now owns 20,225 shares of the company’s stock valued at $3,397,000 after buying an additional 6,031 shares during the period. Citigroup Inc. lifted its position in Park National by 30.6% during the third quarter. Citigroup Inc. now owns 23,113 shares of the company’s stock valued at $3,883,000 after buying an additional 5,416 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Park National by 236.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,124 shares of the company’s stock worth $878,000 after buying an additional 3,599 shares during the period. 62.65% of the stock is owned by hedge funds and other institutional investors.

Park National Stock Down 0.0 %

NYSE PRK opened at $166.38 on Tuesday. The stock has a market cap of $2.69 billion, a PE ratio of 17.87 and a beta of 0.73. The business has a 50 day moving average price of $169.44 and a two-hundred day moving average price of $174.48. Park National Co. has a fifty-two week low of $123.08 and a fifty-two week high of $207.99. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15.

Park National Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.57%. This is a positive change from Park National’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, February 14th. Park National’s dividend payout ratio (DPR) is presently 45.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $178.00 target price (down previously from $187.00) on shares of Park National in a research note on Wednesday, January 29th. Piper Sandler assumed coverage on Park National in a research report on Thursday, February 20th. They issued a “neutral” rating and a $185.50 price objective on the stock.

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.