Advantage Alpha Capital Partners LP Acquires 379 Shares of Park National Co. (NYSE:PRK)

Advantage Alpha Capital Partners LP raised its holdings in Park National Co. (NYSE:PRK) by 12.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,395 shares of the company’s stock after buying an additional 379 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Park National were worth $582,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Park National by 0.5% during the 3rd quarter. State Street Corp now owns 632,567 shares of the company’s stock worth $106,259,000 after acquiring an additional 3,318 shares during the period. Citigroup Inc. grew its stake in Park National by 30.6% in the third quarter. Citigroup Inc. now owns 23,113 shares of the company’s stock worth $3,883,000 after purchasing an additional 5,416 shares during the period. Barclays PLC lifted its position in Park National by 161.7% during the third quarter. Barclays PLC now owns 28,528 shares of the company’s stock valued at $4,792,000 after buying an additional 17,627 shares during the period. Franklin Resources Inc. purchased a new position in Park National during the third quarter valued at $591,000. Finally, BNP Paribas Financial Markets grew its position in shares of Park National by 39.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,062 shares of the company’s stock worth $682,000 after buying an additional 1,144 shares during the period. 62.65% of the stock is owned by hedge funds and other institutional investors.

Park National Stock Up 1.9 %

NYSE:PRK opened at $156.82 on Tuesday. The firm has a 50-day simple moving average of $164.45 and a two-hundred day simple moving average of $172.94. The firm has a market cap of $2.53 billion, a P/E ratio of 16.84 and a beta of 0.72. Park National Co. has a fifty-two week low of $123.08 and a fifty-two week high of $207.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94.

Park National Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $1.07 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Park National’s previous quarterly dividend of $1.06. This represents a $4.28 annualized dividend and a yield of 2.73%. Park National’s dividend payout ratio is 45.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PRK shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $178.00 price objective (down previously from $187.00) on shares of Park National in a research note on Wednesday, January 29th. Piper Sandler assumed coverage on Park National in a research note on Thursday, February 20th. They issued a “neutral” rating and a $185.50 price target on the stock.

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.