Louisiana State Employees Retirement System Buys Shares of 7,100 Park National Co. $PRK

Louisiana State Employees Retirement System purchased a new position in shares of Park National Co. (NYSE:PRK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,100 shares of the company’s stock, valued at approximately $1,160,000.

A number of other institutional investors also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its stake in shares of Park National by 629.2% during the second quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock valued at $29,000 after acquiring an additional 151 shares during the period. Danske Bank A S lifted its position in Park National by 100.0% in the fourth 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 period. Quarry LP lifted its position in Park National by 878.3% in the third quarter. Quarry LP now owns 225 shares of the company’s stock worth $37,000 after purchasing an additional 202 shares during the period. Sarver Vrooman Wealth Advisors bought a new position in Park National during the 4th quarter valued at $46,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in Park National during the 4th quarter valued at $76,000. 62.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PRK. Zacks Research downgraded Park National from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Piper Sandler raised their target price on Park National from $188.00 to $189.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Park National has an average rating of “Hold” and a consensus target price of $184.50.

Park National Price Performance

Shares of NYSE:PRK opened at $186.42 on Friday. The company has a market capitalization of $3.37 billion, a PE ratio of 20.02 and a beta of 0.69. 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 $174.20 and a 200-day moving average of $167.69. Park National Co. has a one year low of $149.06 and a one year high of $188.04.

Park National Announces Dividend

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

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.