Edgestream Partners L.P. Decreases Stake in Park National Co. $PRK

Edgestream Partners L.P. reduced its stake in Park National Co. (NYSE:PRK) by 23.6% during the first quarter, Holdings Channel.com reports. The firm owned 16,932 shares of the company’s stock after selling 5,241 shares during the period. Edgestream Partners L.P.’s holdings in Park National were worth $2,768,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRK. EverSource Wealth Advisors LLC boosted its stake in shares of Park National by 629.2% during the second quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock valued at $29,000 after purchasing an additional 151 shares during the period. Danske Bank A S increased its stake in shares of Park National by 100.0% in the fourth quarter. Danske Bank A S now owns 200 shares of the company’s stock worth $30,000 after buying an additional 100 shares during the period. Quarry LP raised its holdings in Park National by 878.3% during the 3rd quarter. Quarry LP now owns 225 shares of the company’s stock valued at $37,000 after buying an additional 202 shares during the last quarter. Sarver Vrooman Wealth Advisors bought a new stake in Park National during the 4th quarter valued at $46,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in Park National during the 4th quarter valued at $76,000. Institutional investors own 62.65% of the company’s stock.

Park National Price Performance

PRK opened at $208.15 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 52-week low of $149.06 and a 52-week high of $214.10. The stock has a market capitalization of $3.77 billion, a PE ratio of 22.36 and a beta of 0.69. The stock’s 50 day moving average price is $182.27 and its 200-day moving average price is $172.24.

Park National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 21st will be issued a $1.10 dividend. The ex-dividend date is Friday, August 21st. This represents a $4.40 annualized dividend and a yield of 2.1%. Park National’s payout ratio is 39.39%.

Analyst Upgrades and Downgrades

PRK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Park National from $180.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday. Raymond James Financial initiated coverage on shares of Park National in a research note on Tuesday, July 7th. They set a “market perform” rating for the company. Finally, Piper Sandler upped their price objective on shares of Park National from $189.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $211.00.

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.