Park National Co. $PRK Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in Park National Co. (NYSE:PRK) by 332.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,953 shares of the company’s stock after acquiring an additional 5,347 shares during the quarter. Hsbc Holdings PLC’s holdings in Park National were worth $1,068,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of Park National by 629.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock valued at $29,000 after purchasing an additional 151 shares during the last quarter. Danske Bank A S lifted its position in shares of Park National by 100.0% during the 4th quarter. Danske Bank A S now owns 200 shares of the company’s stock worth $30,000 after purchasing an additional 100 shares during the last quarter. Quarry LP grew its stake in shares of Park National by 878.3% during the third quarter. Quarry LP now owns 225 shares of the company’s stock worth $37,000 after purchasing an additional 202 shares in the last quarter. Sarver Vrooman Wealth Advisors acquired a new position in shares of Park National during the fourth quarter worth $46,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in Park National in the fourth quarter valued at $76,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

Park National Trading Up 0.7%

Shares of Park National stock opened at $185.75 on Tuesday. The company has a fifty day simple moving average of $175.59 and a 200-day simple moving average of $168.62. Park National Co. has a 12-month low of $149.06 and a 12-month high of $188.04. 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 stock has a market cap of $3.36 billion, a price-to-earnings ratio of 19.95 and a beta of 0.69.

Park National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, May 15th. Park National’s dividend payout ratio is currently 40.33%.

Analysts Set New Price Targets

A number of research firms have weighed in on PRK. Raymond James Financial began coverage on Park National in a research note on Tuesday, July 7th. They issued a “market perform” rating on the stock. Piper Sandler increased their price objective on Park National from $188.00 to $189.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Finally, Zacks Research lowered Park National from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $184.50.

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.