Hsbc Holdings PLC Reduces Stock Holdings in Park National Co. $PRK

Hsbc Holdings PLC lessened its position in shares of Park National Co. (NYSE:PRK) by 63.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,509 shares of the company’s stock after selling 4,444 shares during the quarter. Hsbc Holdings PLC’s holdings in Park National were worth $407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PRK. EverSource Wealth Advisors LLC grew its stake in Park National by 629.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock valued at $29,000 after acquiring an additional 151 shares during the last quarter. Danske Bank A S raised its position in Park National by 100.0% during the fourth quarter. Danske Bank A S now owns 200 shares of the company’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Quarry LP raised its position in Park National by 878.3% during the third quarter. Quarry LP now owns 225 shares of the company’s stock worth $37,000 after acquiring an additional 202 shares during the last quarter. Sarver Vrooman Wealth Advisors purchased a new stake in shares of Park National in the fourth quarter valued at about $46,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Park National in the fourth quarter valued at about $76,000. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRK has been the subject of a number of recent research reports. Raymond James Financial began coverage on shares of Park National in a research note on Tuesday, July 7th. They set a “market perform” rating for the company. Piper Sandler upped their target price on Park National from $189.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods increased their target price on Park National from $180.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $211.00.

Park National Stock Up 0.5%

PRK stock opened at $208.15 on Friday. The company has a 50 day moving average price of $182.27 and a two-hundred day moving average price of $172.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. The stock has a market capitalization of $3.77 billion, a P/E ratio of 22.36 and a beta of 0.69. Park National Co. has a one year low of $149.06 and a one year high of $214.10.

Park National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 21st will be issued 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 2.1%. Park National’s dividend payout ratio (DPR) is 39.39%.

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.