Park National Co. $PRK Shares Bought by Investment Partners LTD.

Investment Partners LTD. lifted its stake in Park National Co. (NYSE:PRK) by 108.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,790 shares of the company’s stock after purchasing an additional 3,010 shares during the period. Investment Partners LTD.’s holdings in Park National were worth $1,035,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of Park National during the 2nd quarter worth $6,887,000. BlackRock Inc. bought a new position in Park National in the 2nd quarter valued at about $473,814,000. Park National Corp OH lifted its position in shares of Park National by 1.6% during the 3rd quarter. Park National Corp OH now owns 1,145,746 shares of the company’s stock worth $204,699,000 after buying an additional 17,824 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Park National during the 2nd quarter worth approximately $1,299,000. Finally, Deutsche Bank AG purchased a new position in Park National in the 2nd quarter valued at approximately $3,257,000. Institutional investors own 62.65% of the company’s stock.

Park National Stock Performance

Shares of NYSE:PRK opened at $175.58 on Friday. 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 twelve month low of $149.06 and a twelve month high of $215.00. The firm has a market cap of $3.17 billion, a PE ratio of 18.86 and a beta of 0.72. The business has a fifty day moving average of $184.74 and a 200-day moving average of $177.76.

Park National Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 20th will be paid a dividend of $1.30 per share. This is a boost from Park National’s previous quarterly dividend of $1.10. This represents a $5.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, November 20th. Park National’s payout ratio is currently 38.66%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PRK. Hovde Group began coverage on Park National in a research report on Friday, September 25th. They issued a “market perform” rating and a $190.00 price objective for the company. Keefe, Bruyette & Woods raised their target price on shares of Park National from $180.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Piper Sandler dropped their target price on Park National from $217.00 to $201.00 and set a “neutral” rating on the stock in a research note on Wednesday. National Bank Financial set a $190.00 price target on shares of Park National in a research note on Friday, September 25th. Finally, Raymond James Financial started coverage on shares of Park National in a research report on Tuesday, July 7th. They set a “market perform” rating for the company. Five analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Park National presently has a consensus rating of “Hold” and a consensus price target of $196.50.

About Park National

Park National Corporation is a bank holding company headquartered in Newark, Ohio. Its principal subsidiary, The Park National Bank, provides banking and financial services to individuals, families, businesses and nonprofit organizations.

The bank offers deposit accounts, residential and commercial lending, mortgage services, treasury management, online and mobile banking, and other personal and business financial solutions. Through its wealth management and trust operations, it also provides investment management, fiduciary, retirement and estate-planning services.