Johnson Investment Counsel Inc. Acquires Shares of 3,333 Park National Co. (NYSE:PRK)

Johnson Investment Counsel Inc. acquired a new stake in shares of Park National Co. (NYSE:PRK) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,333 shares of the company’s stock, valued at approximately $571,000.

Several other institutional investors and hedge funds have also bought and sold shares of PRK. Smartleaf Asset Management LLC grew its holdings 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. KBC Group NV grew its holdings in Park National by 55.8% during the fourth quarter. KBC Group NV now owns 787 shares of the company’s stock valued at $135,000 after purchasing an additional 282 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Park National during the fourth quarter worth $201,000. Colton Groome Financial Advisors LLC purchased a new stake in shares of Park National during the fourth quarter worth $236,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Park National during the fourth quarter worth $259,000. 62.65% of the stock is owned by institutional investors.

Park National Trading Up 0.1 %

NYSE:PRK opened at $152.24 on Thursday. The company has a market cap of $2.46 billion, a P/E ratio of 16.35 and a beta of 0.72. The stock’s fifty day moving average price is $166.93 and its two-hundred day moving average price is $173.93. Park National Co. has a 1 year low of $123.08 and a 1 year high of $207.99. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Friday, February 14th. This is an increase from Park National’s previous quarterly dividend of $1.06. Park National’s dividend payout ratio (DPR) is 45.97%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Piper Sandler assumed coverage on Park National in a research report on Thursday, February 20th. They set a “neutral” rating and a $185.50 target price on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $178.00 target price (down previously from $187.00) on shares of Park National in a research 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.