Colton Groome Financial Advisors LLC Makes New $236,000 Investment in Park National Co. (NYSE:PRK)

Colton Groome Financial Advisors LLC acquired a new stake in Park National Co. (NYSE:PRK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,376 shares of the company’s stock, valued at approximately $236,000.

A number of other large investors have also made changes to their positions in the stock. KBC Group NV raised its stake in Park National by 55.8% in the 4th 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 last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Park National during the third quarter worth about $227,000. PDS Planning Inc acquired a new position in shares of Park National in the third quarter valued at approximately $228,000. Algert Global LLC purchased a new position in shares of Park National during the second quarter valued at approximately $231,000. Finally, Geneos Wealth Management Inc. acquired a new stake in Park National during the fourth quarter worth approximately $259,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

Analyst Ratings Changes

Separately, 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 report on Wednesday.

Park National Trading Up 1.0 %

Shares of PRK stock opened at $173.03 on Thursday. The firm has a market cap of $2.80 billion, a P/E ratio of 20.29 and a beta of 0.74. The firm’s 50-day simple moving average is $179.09 and its 200-day simple moving average is $174.59. 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 0.95 and a quick ratio of 0.95.

Park National Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.07 dividend. The ex-dividend date is Friday, February 14th. This represents a $4.28 dividend on an annualized basis and a yield of 2.47%. This is a boost from Park National’s previous quarterly dividend of $1.06. Park National’s dividend payout ratio (DPR) is presently 50.18%.

About Park National

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.