Park National Co. (NYSE:PRK) Stock Holdings Trimmed by Birchcreek Wealth Management LLC

Birchcreek Wealth Management LLC reduced its position in Park National Co. (NYSE:PRK) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,913 shares of the company’s stock after selling 245 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Park National were worth $671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of Park National by 161.7% during the third quarter. Barclays PLC now owns 28,528 shares of the company’s stock valued at $4,792,000 after purchasing an additional 17,627 shares during the last quarter. Matauro LLC bought a new position in shares of Park National during the fourth quarter valued at approximately $2,203,000. FMR LLC grew its holdings in shares of Park National by 729.6% during the third quarter. FMR LLC now owns 7,815 shares of the company’s stock valued at $1,313,000 after purchasing an additional 6,873 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Park National by 42.5% during the third quarter. Jane Street Group LLC now owns 20,225 shares of the company’s stock valued at $3,397,000 after purchasing an additional 6,031 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Park National by 30.6% during the third quarter. Citigroup Inc. now owns 23,113 shares of the company’s stock valued at $3,883,000 after purchasing an additional 5,416 shares during the last quarter. 62.65% of the stock is owned by institutional investors.

Park National Stock Performance

Shares of NYSE PRK opened at $163.24 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $171.08 and a 200-day simple moving average of $174.30. The company has a market cap of $2.64 billion, a PE ratio of 17.53 and a beta of 0.73. Park National Co. has a 12-month low of $123.08 and a 12-month high of $207.99.

Park National Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Park National’s previous quarterly dividend of $1.06. This represents a $4.28 annualized dividend and a dividend yield of 2.62%. Park National’s payout ratio is currently 45.97%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRK. Piper Sandler began coverage on Park National in a report on Thursday. They set a “neutral” rating and a $185.50 target price for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $178.00 target price (down from $187.00) on shares of Park National in a report on Wednesday, January 29th.

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.