Advantage Alpha Capital Partners LP Raises Stake in Park National Co. (NYSE:PRK)

Advantage Alpha Capital Partners LP raised its stake in shares of Park National Co. (NYSE:PRK) by 12.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,395 shares of the company’s stock after buying an additional 379 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Park National were worth $582,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its stake 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 buying an additional 112 shares during the period. Signaturefd LLC boosted its position in shares of Park National by 9.7% during the 4th quarter. Signaturefd LLC now owns 692 shares of the company’s stock valued at $119,000 after acquiring an additional 61 shares during the last quarter. KBC Group NV increased its position in shares of Park National by 55.8% in the fourth quarter. KBC Group NV now owns 787 shares of the company’s stock worth $135,000 after purchasing an additional 282 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Park National in the fourth quarter valued at approximately $201,000. Finally, Cibc World Markets Corp bought a new stake in Park National during the fourth quarter valued at approximately $231,000. 62.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PRK has been the topic of several 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 report on Wednesday, January 29th. Piper Sandler initiated coverage on Park National in a research note on Thursday, February 20th. They set a “neutral” rating and a $185.50 price target for the company.

Park National Trading Up 1.9 %

PRK stock opened at $156.82 on Tuesday. The company has a market capitalization of $2.53 billion, a PE ratio of 16.84 and a beta of 0.72. 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 company’s 50 day moving average price is $164.45 and its two-hundred day moving average price is $172.94.

Park National Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.07 dividend. The ex-dividend date of this dividend was 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 yield of 2.73%. Park National’s payout ratio is currently 45.97%.

Park National 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.