Swiss National Bank Acquires 200 Shares of Park National Co. (NYSE:PRK)

Swiss National Bank grew its holdings in Park National Co. (NYSE:PRK) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,800 shares of the company’s stock after purchasing an additional 200 shares during the period. Swiss National Bank’s holdings in Park National were worth $5,451,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Sequoia Financial Advisors LLC bought a new stake in Park National in the 4th quarter worth about $244,000. Johnson Investment Counsel Inc. purchased a new stake in shares of Park National during the 4th quarter valued at about $571,000. Raymond James Financial Inc. bought a new stake in shares of Park National in the fourth quarter worth approximately $3,673,000. Atria Investments Inc raised its holdings in shares of Park National by 17.6% during the fourth quarter. Atria Investments Inc now owns 3,959 shares of the company’s stock valued at $679,000 after purchasing an additional 592 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Park National by 162.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 181 shares of the company’s stock valued at $31,000 after purchasing an additional 112 shares during the period. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Price Performance

Shares of NYSE:PRK opened at $153.83 on Monday. 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 market capitalization of $2.49 billion, a PE ratio of 16.52 and a beta of 0.72. The firm’s 50 day moving average price is $164.67 and its 200-day moving average price is $173.01. Park National Co. has a twelve month low of $123.08 and a twelve month high of $207.99.

Park National Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $1.07 per share. 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 a boost from Park National’s previous quarterly dividend of $1.06. Park National’s dividend payout ratio (DPR) is currently 45.97%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRK. Piper Sandler began coverage on shares of Park National in a report on Thursday, February 20th. They issued a “neutral” rating and a $185.50 target price on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $178.00 price target (down from $187.00) on shares of Park National in a research note 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.