Hsbc Holdings PLC Sells 147 Shares of Park National Co. (NYSE:PRK)

Hsbc Holdings PLC reduced its position in shares of Park National Co. (NYSE:PRK) by 8.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,676 shares of the company’s stock after selling 147 shares during the quarter. Hsbc Holdings PLC’s holdings in Park National were worth $289,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PRK. Barclays PLC raised its stake in shares of 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 buying an additional 17,627 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Park National during the 3rd quarter worth $591,000. Nisa Investment Advisors LLC raised its position in shares of Park National by 17.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,009 shares of the company’s stock valued at $344,000 after acquiring an additional 300 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Park National by 236.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,124 shares of the company’s stock valued at $878,000 after acquiring an additional 3,599 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in shares of Park National in the 4th quarter worth $259,000. 62.65% of the stock is currently owned by institutional investors and hedge funds.

Park National Price Performance

PRK opened at $162.89 on Friday. The stock has a market cap of $2.63 billion, a P/E ratio of 17.50 and a beta of 0.79. Park National Co. has a 12 month low of $131.93 and a 12 month 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. The company has a fifty day simple moving average of $151.43 and a 200 day simple moving average of $168.20.

Park National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, May 16th. Park National’s dividend payout ratio is currently 43.94%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PRK shares. Keefe, Bruyette & Woods upped their price objective on Park National from $167.00 to $170.00 and gave the company a “market perform” rating in a report on Wednesday, April 30th. Piper Sandler initiated coverage on shares of Park National in a research report on Thursday, February 20th. They issued a “neutral” rating and a $185.50 price target on the stock.

Park National Company 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.