Dimensional Fund Advisors LP Increases Stake in Park National Co. (NYSE:PRK)

Dimensional Fund Advisors LP grew its position in Park National Co. (NYSE:PRK) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 495,854 shares of the company’s stock after acquiring an additional 3,911 shares during the period. Dimensional Fund Advisors LP owned about 3.07% of Park National worth $85,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in Park National by 162.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 181 shares of the company’s stock valued at $31,000 after purchasing an additional 112 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Park National by 808.0% in the fourth quarter. Sterling Capital Management LLC now owns 454 shares of the company’s stock valued at $78,000 after buying an additional 404 shares in the last quarter. Signaturefd LLC grew its holdings in Park National by 9.7% during the fourth quarter. Signaturefd LLC now owns 692 shares of the company’s stock worth $119,000 after acquiring an additional 61 shares during the period. KBC Group NV raised its position in Park National by 55.8% in the fourth quarter. KBC Group NV now owns 787 shares of the company’s stock worth $135,000 after acquiring an additional 282 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Park National in the fourth quarter valued at $201,000. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Price Performance

Shares of NYSE:PRK opened at $151.55 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. The business’s fifty day moving average price is $152.26 and its two-hundred day moving average price is $169.05. The stock has a market cap of $2.45 billion, a PE ratio of 16.28 and a beta of 0.72. Park National Co. has a one year low of $131.71 and a one year high of $207.99.

Park National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, May 16th. Park National’s payout ratio is 45.97%.

Analysts Set New Price Targets

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

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.