Tudor Investment Corp ET AL Has $5.25 Million Stock Holdings in Park National Co. $PRK

Tudor Investment Corp ET AL lifted its holdings in Park National Co. (NYSE:PRK) by 51.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 32,285 shares of the company’s stock after acquiring an additional 10,935 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Park National were worth $5,247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp boosted its position in shares of Park National by 8.3% in the second quarter. State Street Corp now owns 673,645 shares of the company’s stock worth $112,674,000 after buying an additional 51,381 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Park National by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 55,782 shares of the company’s stock worth $9,066,000 after buying an additional 6,074 shares during the period. Bank of America Corp DE boosted its position in Park National by 9.0% during the third quarter. Bank of America Corp DE now owns 54,377 shares of the company’s stock valued at $8,838,000 after purchasing an additional 4,467 shares during the last quarter. Jane Street Group LLC boosted its position in Park National by 3,571.9% during the first quarter. Jane Street Group LLC now owns 50,342 shares of the company’s stock valued at $7,622,000 after purchasing an additional 48,971 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Park National by 14.5% during the second quarter. Invesco Ltd. now owns 47,712 shares of the company’s stock valued at $7,980,000 after purchasing an additional 6,039 shares during the last quarter. Institutional investors and hedge funds own 62.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PRK has been the subject of a number of research reports. Zacks Research cut Park National from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Piper Sandler lifted their price objective on Park National from $176.00 to $183.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $181.50.

Park National Price Performance

Shares of NYSE:PRK opened at $172.13 on Thursday. Park National Co. has a fifty-two week low of $139.18 and a fifty-two week high of $179.48. The business has a 50-day moving average of $165.62 and a two-hundred day moving average of $160.91. The stock has a market capitalization of $3.11 billion, a P/E ratio of 18.49 and a beta of 0.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95.

Park National Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th were given a $1.10 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.6%. Park National’s payout ratio is currently 39.57%.

Park National Company Profile

Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company’s main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.

Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.