Stratos Wealth Partners LTD. Has $2.15 Million Stock Position in Park National Co. (NYSE:PRK)

Stratos Wealth Partners LTD. cut its holdings in Park National Co. (NYSE:PRK) by 0.5% during the 4th quarter, HoldingsChannel reports. The fund owned 12,552 shares of the company’s stock after selling 60 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Park National were worth $2,152,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. KBC Group NV grew its position in shares of Park National by 55.8% during the 4th quarter. KBC Group NV now owns 787 shares of the company’s stock worth $135,000 after purchasing an additional 282 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Park National in the third quarter valued at approximately $227,000. PDS Planning Inc acquired a new stake in Park National during the third quarter worth approximately $228,000. Colton Groome Financial Advisors LLC bought a new position in Park National during the 4th quarter worth $236,000. Finally, Geneos Wealth Management Inc. acquired a new position in Park National in the 4th quarter valued at $259,000. 62.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $178.00 price target (down previously from $187.00) on shares of Park National in a research report on Wednesday, January 29th.

Park National Stock Performance

NYSE PRK opened at $169.79 on Friday. The firm’s 50 day simple moving average is $175.72 and its 200 day simple moving average is $174.65. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 18.24 and a beta of 0.73. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Park National Co. has a 1 year low of $123.08 and a 1 year high of $207.99.

Park National Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.07 dividend. This is a positive change from Park National’s previous quarterly dividend of $1.06. The ex-dividend date is Friday, February 14th. This represents a $4.28 annualized dividend and a dividend yield of 2.52%. Park National’s dividend payout ratio (DPR) is presently 45.54%.

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.