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

Tudor Investment Corp ET AL raised its holdings in shares of Park National Co. (NYSE:PRK) by 51.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,285 shares of the company’s stock after purchasing an additional 10,935 shares during the period. Tudor Investment Corp ET AL’s holdings in Park National were worth $5,247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PRK. Allworth Financial LP raised its stake in shares of Park National by 78.8% during the third quarter. Allworth Financial LP now owns 1,259 shares of the company’s stock worth $205,000 after buying an additional 555 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Park National during the 3rd quarter valued at $257,000. Advisory Services Network LLC acquired a new position in shares of Park National in the 3rd quarter valued at $179,000. PharVision Advisers LLC bought a new position in shares of Park National in the 3rd quarter worth $212,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Park National during the third quarter worth $673,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

Park National Trading Up 0.2%

Shares of NYSE:PRK opened at $157.76 on Wednesday. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 16.95 and a beta of 0.72. Park National Co. has a 12 month low of $137.97 and a 12 month high of $179.48. The company’s fifty day simple moving average is $165.33 and its 200 day simple moving average is $161.27. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15.

Park National Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler increased their target price on 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 upgraded Park National from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Park National presently has an average rating of “Moderate Buy” and a consensus price target of $181.50.

Park National 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.