Virtu Financial LLC Purchases 3,045 Shares of Park National Co. $PRK

Virtu Financial LLC grew its position in Park National Co. (NYSE:PRK) by 191.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,635 shares of the company’s stock after acquiring an additional 3,045 shares during the period. Virtu Financial LLC’s holdings in Park National were worth $705,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PRK. State Street Corp increased its holdings in Park National by 8.3% during the 2nd quarter. State Street Corp now owns 673,645 shares of the company’s stock valued at $112,674,000 after purchasing an additional 51,381 shares in the last quarter. Jane Street Group LLC boosted its stake in Park National by 3,571.9% in 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. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Park National in the fourth quarter worth $3,204,000. Tudor Investment Corp ET AL grew its holdings in shares of Park National by 52.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 49,267 shares of the company’s stock worth $7,497,000 after purchasing an additional 16,982 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Park National by 58.4% during the second quarter. JPMorgan Chase & Co. now owns 43,987 shares of the company’s stock worth $7,357,000 after purchasing an additional 16,211 shares during the last quarter. 62.65% of the stock is owned by institutional investors and hedge funds.

Park National Stock Down 0.0%

NYSE PRK opened at $176.55 on Tuesday. The stock has a market capitalization of $3.19 billion, a P/E ratio of 18.96 and a beta of 0.70. Park National Co. has a 52 week low of $149.06 and a 52 week high of $182.34. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. The stock has a fifty day moving average of $172.25 and a 200-day moving average of $166.28.

Park National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, May 15th. Park National’s dividend payout ratio (DPR) is presently 40.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Zacks Research lowered shares of Park National from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Piper Sandler upped their target price on shares of Park National from $183.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Park National currently has a consensus rating of “Hold” and an average target price of $184.00.

Park National 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.