Colton Groome Financial Advisors LLC Purchases New Holdings in Park National Co. (NYSE:PRK)

Colton Groome Financial Advisors LLC acquired a new position in shares of Park National Co. (NYSE:PRK) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,376 shares of the company’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its holdings in shares of Park National by 4.9% during the third quarter. Nisa Investment Advisors LLC now owns 1,709 shares of the company’s stock worth $287,000 after purchasing an additional 80 shares during the period. New York State Teachers Retirement System increased its stake in shares of Park National by 3.1% during the third quarter. New York State Teachers Retirement System now owns 3,277 shares of the company’s stock worth $550,000 after acquiring an additional 100 shares during the period. PNC Financial Services Group Inc. raised its holdings in Park National by 1.5% during the third quarter. PNC Financial Services Group Inc. now owns 8,082 shares of the company’s stock worth $1,358,000 after purchasing an additional 116 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Park National by 11.3% in the third quarter. Sanctuary Advisors LLC now owns 2,366 shares of the company’s stock valued at $397,000 after purchasing an additional 241 shares during the period. Finally, Advantage Alpha Capital Partners LP increased its position in Park National by 9.0% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 3,016 shares of the company’s stock worth $507,000 after purchasing an additional 249 shares during the period. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

Park National Trading Up 1.0 %

Shares of Park National stock opened at $173.03 on Thursday. The company has a 50-day moving average of $179.09 and a two-hundred day moving average of $174.59. Park National Co. has a 12-month low of $123.08 and a 12-month high of $207.99. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.80 billion, a PE ratio of 20.29 and a beta of 0.74.

Park National Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.07 dividend. This is an increase from Park National’s previous quarterly dividend of $1.06. This represents a $4.28 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Friday, February 14th. Park National’s dividend payout ratio (DPR) is presently 50.18%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $178.00 price target (down from $187.00) on shares of Park National in a research note on Wednesday.

Park National Company Profile

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.