Sequoia Financial Advisors LLC Takes Position in Park National Co. (NYSE:PRK)

Sequoia Financial Advisors LLC purchased a new stake in Park National Co. (NYSE:PRK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,424 shares of the company’s stock, valued at approximately $244,000.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in shares of Park National by 162.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 181 shares of the company’s stock valued at $31,000 after purchasing an additional 112 shares in the last quarter. KBC Group NV boosted its stake in shares of Park National by 55.8% in the 4th quarter. KBC Group NV now owns 787 shares of the company’s stock valued at $135,000 after purchasing an additional 282 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Park National in the 4th quarter valued at approximately $201,000. Colton Groome Financial Advisors LLC acquired a new stake in shares of Park National in the 4th quarter valued at approximately $236,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Park National in the 4th quarter valued at approximately $259,000. 62.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on PRK shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $178.00 target price (down from $187.00) on shares of Park National in a research report on Wednesday, January 29th. Piper Sandler started coverage on shares of Park National in a research report on Thursday, February 20th. They set a “neutral” rating and a $185.50 target price on the stock.

Park National Stock Down 0.0 %

NYSE:PRK opened at $154.35 on Thursday. The firm’s 50 day simple moving average is $165.23 and its 200 day simple moving average is $173.25. 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 Co. has a one year low of $123.08 and a one year high of $207.99. The company has a market cap of $2.49 billion, a PE ratio of 16.58 and a beta of 0.72.

Park National Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.07 dividend. The ex-dividend date was Friday, February 14th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.77%. This is an increase from Park National’s previous quarterly dividend of $1.06. Park National’s payout ratio is 45.97%.

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.