Tudor Investment Corp ET AL Acquires 10,935 Shares of Park National Co. $PRK

Tudor Investment Corp ET AL increased its holdings in shares of Park National Co. (NYSE:PRK) by 51.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,285 shares of the company’s stock after acquiring an additional 10,935 shares during the period. Tudor Investment Corp ET AL owned about 0.20% of Park National worth $5,247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRK. Caldwell Trust Co bought a new position in Park National during the second quarter worth about $28,000. EverSource Wealth Advisors LLC raised its holdings 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 worth $29,000 after buying an additional 151 shares in the last quarter. Quarry LP lifted its position in shares of Park National by 878.3% during the 3rd quarter. Quarry LP now owns 225 shares of the company’s stock worth $37,000 after buying an additional 202 shares during the period. CWM LLC boosted its stake in Park National by 84.8% in the 3rd quarter. CWM LLC now owns 412 shares of the company’s stock valued at $67,000 after buying an additional 189 shares in the last quarter. Finally, Salomon & Ludwin LLC grew its position in Park National by 40.7% in the third quarter. Salomon & Ludwin LLC now owns 470 shares of the company’s stock valued at $76,000 after acquiring an additional 136 shares during the period. Institutional investors own 62.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Park National from $176.00 to $183.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Zacks Research raised shares of Park National from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.50.

Park National Trading Up 0.2%

PRK opened at $157.76 on Wednesday. Park National Co. has a 1-year low of $137.97 and a 1-year high of $179.48. The stock has a market capitalization of $2.85 billion, a PE ratio of 16.95 and a beta of 0.72. 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 firm has a 50-day moving average price of $165.33 and a two-hundred day moving average price of $161.27.

Park National Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, February 20th. Park National’s dividend payout ratio (DPR) is presently 39.57%.

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.