Matauro LLC Takes $2.20 Million Position in Park National Co. (NYSE:PRK)

Matauro LLC purchased a new position in Park National Co. (NYSE:PRK) in the fourth quarter, Holdings Channel.com reports. The fund purchased 12,849 shares of the company’s stock, valued at approximately $2,203,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KBC Group NV lifted its stake in 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 acquiring an additional 282 shares during the period. PDS Planning Inc purchased a new stake in Park National in the third quarter worth $228,000. Colton Groome Financial Advisors LLC purchased a new position in Park National during the fourth quarter valued at $236,000. Geneos Wealth Management Inc. bought a new stake in shares of Park National during the 4th quarter valued at $259,000. Finally, CWA Asset Management Group LLC bought a new stake in shares of Park National during the 3rd quarter valued at $263,000. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Price Performance

PRK opened at $163.24 on Friday. The stock has a 50-day moving average price of $171.56 and a 200-day moving average price of $174.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95. The firm 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 1 year low of $123.08 and a 1 year high of $207.99.

Park National Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented 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 report on Wednesday, January 29th. Piper Sandler assumed coverage on shares of Park National in a report on Thursday. They set a “neutral” rating and a $185.50 target price on the stock.

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.