Park National Co. (NYSE:PRK) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its position in Park National Co. (NYSE:PRK) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,861 shares of the company’s stock after selling 1,425 shares during the period. Corient Private Wealth LLC owned about 0.10% of Park National worth $2,719,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Park National by 0.5% in the 3rd quarter. State Street Corp now owns 632,567 shares of the company’s stock valued at $106,259,000 after buying an additional 3,318 shares during the period. Citigroup Inc. lifted its holdings in Park National by 30.6% in the third quarter. Citigroup Inc. now owns 23,113 shares of the company’s stock valued at $3,883,000 after acquiring an additional 5,416 shares during the period. Barclays PLC boosted its position in shares of Park National by 161.7% during the 3rd quarter. Barclays PLC now owns 28,528 shares of the company’s stock worth $4,792,000 after purchasing an additional 17,627 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Park National during the 3rd quarter worth $591,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Park National by 39.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,062 shares of the company’s stock worth $682,000 after purchasing an additional 1,144 shares during the period. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Trading Down 0.0 %

NYSE:PRK opened at $153.83 on Monday. Park National Co. has a 52-week low of $123.08 and a 52-week high of $207.99. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $164.67 and a 200-day simple moving average of $173.01. The company has a market capitalization of $2.49 billion, a PE ratio of 16.52 and a beta of 0.72.

Park National Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Park National’s previous quarterly dividend of $1.06. Park National’s dividend payout ratio is 45.97%.

Analysts Set New Price Targets

PRK has been the topic of a number of research analyst reports. Piper Sandler started coverage on shares of Park National in a report on Thursday, February 20th. They set a “neutral” rating and a $185.50 price objective on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $178.00 price target (down previously from $187.00) on shares of Park National in a report on Wednesday, January 29th.

Park National Company Profile

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.