Park National Co. (NYSE:PRK) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in shares of Park National Co. (NYSE:PRK) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 179,695 shares of the company’s stock after purchasing an additional 125 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Park National were worth $30,805,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in shares of Park National by 162.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 181 shares of the company’s stock worth $31,000 after buying an additional 112 shares during the last quarter. KBC Group NV boosted its position in Park National by 55.8% during the fourth quarter. KBC Group NV now owns 787 shares of the company’s stock worth $135,000 after purchasing an additional 282 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Park National during the fourth quarter valued at approximately $201,000. Colton Groome Financial Advisors LLC acquired a new position in shares of Park National during the fourth quarter valued at approximately $236,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Park National during the fourth quarter valued at approximately $259,000. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Price Performance

PRK stock opened at $156.20 on Monday. The business has a fifty day moving average of $166.24 and a two-hundred day moving average of $173.67. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 16.78 and a beta of 0.72. Park National Co. has a 52-week low of $123.08 and a 52-week high of $207.99.

Park National Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.07 per share. This is a boost from Park National’s previous quarterly dividend of $1.06. The ex-dividend date was Friday, February 14th. This represents a $4.28 annualized dividend and a yield of 2.74%. Park National’s dividend payout ratio (DPR) is 45.97%.

Analyst Ratings Changes

PRK has been the subject of several recent research reports. Piper Sandler initiated coverage on Park National in a report on Thursday, February 20th. They issued a “neutral” rating and a $185.50 price target for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $178.00 price target (down previously from $187.00) on shares of Park National in a report on Wednesday, January 29th.

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.