Zurcher Kantonalbank Zurich Cantonalbank Has $411,000 Position in Park National Co. (NYSE:PRK)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Park National Co. (NYSE:PRK) by 18.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,086 shares of the company’s stock after purchasing an additional 486 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Park National were worth $411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rhumbline Advisers grew its stake in shares of Park National by 9.6% in the 3rd quarter. Rhumbline Advisers now owns 48,244 shares of the company’s stock valued at $4,560,000 after buying an additional 4,225 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Park National by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 156,808 shares of the company’s stock worth $14,821,000 after purchasing an additional 7,655 shares during the period. Illinois Municipal Retirement Fund bought a new position in shares of Park National in the 3rd quarter worth $803,000. International Assets Investment Management LLC grew its position in Park National by 6,882.5% in the 4th quarter. International Assets Investment Management LLC now owns 9,566 shares of the company’s stock valued at $1,271,000 after purchasing an additional 9,429 shares during the period. Finally, Mariner LLC increased its stake in Park National by 11.0% during the 3rd quarter. Mariner LLC now owns 10,853 shares of the company’s stock valued at $1,026,000 after purchasing an additional 1,077 shares in the last quarter. 62.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $130.00 price objective (up from $125.00) on shares of Park National in a report on Wednesday, April 24th. StockNews.com upgraded Park National from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Finally, Piper Sandler started coverage on Park National in a research note on Friday, February 23rd. They issued a “neutral” rating and a $130.00 price objective for the company.

Park National Stock Performance

NYSE PRK opened at $136.79 on Friday. The company has a fifty day moving average price of $130.69 and a 200-day moving average price of $124.47. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 17.32 and a beta of 0.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.91 and a quick ratio of 0.91. Park National Co. has a 1 year low of $90.28 and a 1 year high of $138.60.

Park National (NYSE:PRK) last issued its quarterly earnings data on Friday, April 19th. The company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.30. Park National had a net margin of 22.03% and a return on equity of 12.28%. The business had revenue of $121.82 million during the quarter, compared to the consensus estimate of $118.29 million. As a group, equities research analysts predict that Park National Co. will post 7.92 EPS for the current fiscal year.

Park National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a dividend of $1.06 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.24 dividend on an annualized basis and a yield of 3.10%. Park National’s dividend payout ratio (DPR) is currently 53.67%.

Park National 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.