Sanctuary Advisors LLC Invests $773,000 in Park National Co. $PRK

Sanctuary Advisors LLC bought a new stake in Park National Co. (NYSE:PRK) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,226 shares of the company’s stock, valued at approximately $773,000.

A number of other large investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in Park National during the second quarter worth about $52,000. Allworth Financial LP bought a new stake in Park National in the 2nd quarter worth about $157,000. BlackRock Inc. purchased a new stake in Park National in the 2nd quarter valued at about $473,814,000. Deutsche Bank AG purchased a new stake in Park National in the 2nd quarter valued at about $3,257,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Park National during the 2nd quarter worth approximately $23,652,000. 62.65% of the stock is owned by institutional investors.

Park National Stock Performance

NYSE PRK opened at $198.12 on Friday. The company has a market capitalization of $3.58 billion, a PE ratio of 21.28 and a beta of 0.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. Park National Co. has a 52-week low of $149.06 and a 52-week high of $215.00. The company has a 50-day simple moving average of $194.32 and a 200 day simple moving average of $177.75.

Park National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 21st will be paid a dividend of $1.10 per share. The ex-dividend date is Friday, August 21st. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. Park National’s dividend payout ratio (DPR) is presently 39.39%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PRK. Raymond James Financial started coverage on Park National in a report on Tuesday, July 7th. They issued a “market perform” rating for the company. Piper Sandler lifted their price target on Park National from $189.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on Park National from $180.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Park National currently has a consensus rating of “Hold” and an average target price of $211.00.

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.