Park National Co. (NYSE:PRK) Shares Sold by Birchcreek Wealth Management LLC

Birchcreek Wealth Management LLC lessened its stake in shares of Park National Co. (NYSE:PRK) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.

A number of other hedge funds and other institutional investors also recently modified their holdings of PRK. KBC Group NV lifted its stake in shares of Park National by 55.8% during the fourth quarter. KBC Group NV now owns 787 shares of the company’s stock worth $135,000 after purchasing an additional 282 shares in the last quarter. PDS Planning Inc acquired a new position in shares of Park National during the third quarter worth about $228,000. Colton Groome Financial Advisors LLC acquired a new position in shares of Park National during the fourth quarter worth about $236,000. Geneos Wealth Management Inc. acquired a new position in shares of Park National during the fourth quarter worth about $259,000. Finally, CWA Asset Management Group LLC acquired a new position in shares of Park National during the third quarter worth about $263,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

Park National Trading Down 2.2 %

NYSE:PRK opened at $163.24 on Monday. 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 one year low of $123.08 and a one year high of $207.99. The business’s 50-day simple moving average is $171.08 and its 200 day simple moving average is $174.30. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 17.53 and a beta of 0.73.

Park National Increases Dividend

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

Wall Street Analyst Weigh In

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

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.