Stratos Wealth Partners LTD. Purchases 1,468 Shares of Park National Co. $PRK

Stratos Wealth Partners LTD. raised its position in Park National Co. (NYSE:PRK) by 11.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,930 shares of the company’s stock after acquiring an additional 1,468 shares during the quarter. Stratos Wealth Partners LTD. owned approximately 0.09% of Park National worth $2,330,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in Park National by 2.7% in the first quarter. Principal Financial Group Inc. now owns 72,418 shares of the company’s stock valued at $10,964,000 after acquiring an additional 1,895 shares during the period. GAMMA Investing LLC grew its position in shares of Park National by 199.3% during the 1st quarter. GAMMA Investing LLC now owns 449 shares of the company’s stock valued at $68,000 after acquiring an additional 299 shares during the period. KBC Group NV grew its position in shares of Park National by 11.6% during the 1st quarter. KBC Group NV now owns 878 shares of the company’s stock valued at $133,000 after acquiring an additional 91 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Park National during the 1st quarter valued at $208,000. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Park National during the 1st quarter valued at $250,000. Institutional investors own 62.65% of the company’s stock.

Park National Stock Up 2.6%

PRK opened at $155.08 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. Park National Co. has a fifty-two week low of $137.97 and a fifty-two week high of $207.99. The firm’s fifty day moving average is $166.14 and its 200 day moving average is $162.87. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 16.66 and a beta of 0.72.

Park National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a dividend of $1.07 per share. The ex-dividend date was Friday, August 15th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.8%. Park National’s payout ratio is 41.59%.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial initiated coverage on shares of Park National in a research report on Monday, July 21st. They set a “market perform” rating for the company. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $177.75.

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.