Centricity Wealth Management LLC Buys New Stake in Park National Co. (NYSE:PRK)

Centricity Wealth Management LLC purchased a new stake in Park National Co. (NYSE:PRK) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,270 shares of the company’s stock, valued at approximately $389,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV increased its position 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 purchased a new position in Park National during the 3rd quarter worth approximately $228,000. Colton Groome Financial Advisors LLC purchased a new position in Park National during the 4th quarter worth approximately $236,000. Geneos Wealth Management Inc. purchased a new stake in Park National in the fourth quarter valued at approximately $259,000. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Park National in the third quarter valued at approximately $263,000. 62.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Park National Trading Down 0.4 %

NYSE:PRK opened at $166.83 on Friday. Park National Co. has a 12-month low of $123.08 and a 12-month high of $207.99. 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’s 50 day simple moving average is $171.56 and its 200-day simple moving average is $174.04. The firm has a market cap of $2.70 billion, a P/E ratio of 18.33 and a beta of 0.73.

Park National Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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. This represents a $4.28 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Friday, February 14th. Park National’s payout ratio is currently 45.97%.

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.