Susquehanna International Group LLP Decreases Holdings in Park National Co. $PRK

Susquehanna International Group LLP decreased its stake in Park National Co. (NYSE:PRK) by 76.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,140 shares of the company’s stock after selling 6,887 shares during the quarter. Susquehanna International Group LLP’s holdings in Park National were worth $392,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PRK. BlackRock Inc. acquired a new stake in Park National during the 2nd quarter worth $473,814,000. Bank of New York Mellon Corp acquired a new stake in shares of Park National in the second quarter valued at about $23,652,000. Park National Corp OH raised its position in shares of Park National by 9.8% in the first quarter. Park National Corp OH now owns 1,155,964 shares of the company’s stock valued at $188,942,000 after buying an additional 103,142 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Park National in the second quarter worth about $9,918,000. Finally, State Street Corp lifted its stake in shares of Park National by 8.3% in the second quarter. State Street Corp now owns 673,645 shares of the company’s stock worth $112,674,000 after buying an additional 51,381 shares in the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Analyst Ratings Changes

PRK has been the subject of several research reports. Piper Sandler upped their price objective on shares of Park National from $189.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Raymond James Financial assumed coverage on shares of Park National in a research note on Tuesday, July 7th. They issued a “market perform” rating on the stock. Finally, Keefe, Bruyette & Woods upped their price target on Park National from $180.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Park National has a consensus rating of “Hold” and an average price target of $211.00.

Park National Trading Down 1.4%

NYSE PRK opened at $195.29 on Tuesday. The firm’s 50-day moving average is $194.70 and its two-hundred day moving average is $177.90. Park National Co. has a 12 month low of $149.06 and a 12 month high of $215.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95. The stock has a market capitalization of $3.53 billion, a P/E ratio of 20.98 and a beta of 0.69.

Park National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 21st will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. Park National’s dividend payout ratio (DPR) is presently 39.39%.

About Park National

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.