Quantinno Capital Management LP Increases Stock Holdings in Park National Co. $PRK

Quantinno Capital Management LP boosted its position in Park National Co. (NYSE:PRK) by 251.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,078 shares of the company’s stock after buying an additional 12,212 shares during the period. Quantinno Capital Management LP owned approximately 0.09% of Park National worth $2,792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRK. Royal Bank of Canada grew its holdings in Park National by 59.2% during the first quarter. Royal Bank of Canada now owns 3,085 shares of the company’s stock worth $467,000 after acquiring an additional 1,147 shares during the period. AQR Capital Management LLC increased its stake in Park National by 27.6% in the 1st quarter. AQR Capital Management LLC now owns 4,087 shares of the company’s stock valued at $619,000 after purchasing an additional 884 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Park National by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,583 shares of the company’s stock worth $1,299,000 after purchasing an additional 384 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Park National by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 31,122 shares of the company’s stock worth $4,712,000 after purchasing an additional 1,293 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Park National by 3,571.9% during the first quarter. Jane Street Group LLC now owns 50,342 shares of the company’s stock worth $7,622,000 after purchasing an additional 48,971 shares in the last quarter. Institutional investors and hedge funds own 62.65% of the company’s stock.

Park National Price Performance

PRK opened at $203.40 on Monday. Park National Co. has a twelve month low of $149.06 and a twelve month high of $215.00. The company has a fifty day simple moving average of $185.89 and a 200 day simple moving average of $173.98. 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 firm has a market cap of $3.68 billion, a price-to-earnings ratio of 21.85 and a beta of 0.69.

Park National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 21st will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, August 21st. Park National’s payout ratio is currently 39.39%.

Wall Street Analysts Forecast Growth

PRK has been the subject of a number of research analyst reports. Raymond James Financial assumed coverage on Park National in a research report on Tuesday, July 7th. They issued a “market perform” rating for the company. Piper Sandler increased their price objective on shares of Park National from $189.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods raised their price target on Park National from $180.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $211.00.

Park National Company Profile

Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company’s main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.

Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.