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

Matauro LLC purchased a new position in Park National Co. (NYSE:PRK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,849 shares of the company’s stock, valued at approximately $2,203,000. Matauro LLC owned approximately 0.08% of Park National at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRK. 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. PDS Planning Inc bought a new position in shares of Park National in the third quarter worth approximately $228,000. Colton Groome Financial Advisors LLC bought a new position in shares of Park National in the fourth quarter worth approximately $236,000. Geneos Wealth Management Inc. bought a new position in shares of Park National in the fourth quarter worth approximately $259,000. Finally, CWA Asset Management Group LLC bought a new position in shares of Park National in the third quarter worth approximately $263,000. 62.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRK has been the topic of several research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $178.00 price objective (down from $187.00) on shares of Park National in a research report on Wednesday, January 29th. Piper Sandler initiated coverage on shares of Park National in a research report on Thursday. They set a “neutral” rating and a $185.50 price target on the stock.

Park National Stock Down 2.2 %

Shares of NYSE PRK opened at $163.24 on Friday. Park National Co. has a one year low of $123.08 and a one year high of $207.99. 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’s 50 day simple moving average is $171.56 and its two-hundred day simple moving average is $174.04. The stock has a market capitalization of $2.64 billion, a P/E ratio of 17.53 and a beta of 0.73.

Park National Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis 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 dividend payout ratio is 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.