Park National Co. (NYSE:PRK) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in shares of Park National Co. (NYSE:PRK) by 5.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,207 shares of the company’s stock after purchasing an additional 2,579 shares during the quarter. American Century Companies Inc. owned about 0.34% of Park National worth $5,124,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Park National during the first quarter worth $51,000. Royal Bank of Canada boosted its holdings in shares of Park National by 19.8% during the third quarter. Royal Bank of Canada now owns 582 shares of the company’s stock worth $73,000 after purchasing an additional 96 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Park National by 82.3% during the second quarter. Tower Research Capital LLC TRC now owns 970 shares of the company’s stock worth $99,000 after purchasing an additional 438 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Park National during the fourth quarter worth $204,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Park National during the fourth quarter worth $211,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler started coverage on Park National in a research report on Friday, February 23rd. They issued a “neutral” rating and a $130.00 target price on the stock.

Park National Trading Up 3.6 %

NYSE:PRK opened at $134.95 on Thursday. The business’s 50-day moving average is $130.30 and its two-hundred day moving average is $118.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.91 and a quick ratio of 0.91. Park National Co. has a 12 month low of $90.28 and a 12 month high of $137.26. The firm has a market capitalization of $2.18 billion, a PE ratio of 17.30 and a beta of 0.69.

Park National (NYSE:PRK) last announced its earnings results on Monday, January 22nd. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.09. The company had revenue of $140.73 million during the quarter, compared to the consensus estimate of $119.14 million. Park National had a return on equity of 12.17% and a net margin of 22.46%. Research analysts predict that Park National Co. will post 7.63 earnings per share for the current fiscal year.

Park National Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 16th were paid a dividend of $1.06 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Park National’s previous quarterly dividend of $1.05. This represents a $4.24 annualized dividend and a dividend yield of 3.14%. Park National’s dividend payout ratio (DPR) is currently 54.36%.

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.