Louisiana State Employees Retirement System Purchases New Holdings in Park National Co. $PRK

Louisiana State Employees Retirement System acquired a new position in Park National Co. (NYSE:PRK) in the first quarter, Holdings Channel reports. The firm acquired 7,100 shares of the company’s stock, valued at approximately $1,160,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in Park National by 629.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock worth $29,000 after purchasing an additional 151 shares in the last quarter. Danske Bank A S lifted its holdings in shares of Park National by 100.0% in the fourth quarter. Danske Bank A S now owns 200 shares of the company’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Quarry LP lifted its holdings in shares of Park National by 878.3% in the third quarter. Quarry LP now owns 225 shares of the company’s stock valued at $37,000 after purchasing an additional 202 shares in the last quarter. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Park National in the fourth quarter worth $46,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Park National in the fourth quarter worth $76,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

Park National Stock Performance

Shares of NYSE:PRK opened at $186.42 on Friday. The firm has a fifty day moving average of $174.20 and a two-hundred day moving average of $167.69. The firm has a market capitalization of $3.37 billion, a P/E ratio of 20.02 and a beta of 0.69. Park National Co. has a 12-month low of $149.06 and a 12-month high of $188.04. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.40 dividend on an annualized basis and a yield of 2.4%. Park National’s dividend payout ratio (DPR) is presently 40.33%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Zacks Research lowered Park National from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Piper Sandler raised their price objective on Park National from $188.00 to $189.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, Park National has an average rating of “Hold” and a consensus price target of $184.50.

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.