Centricity Wealth Management LLC Invests $389,000 in Park National Co. (NYSE:PRK)

Centricity Wealth Management LLC acquired a new position in Park National Co. (NYSE:PRK) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,270 shares of the company’s stock, valued at approximately $389,000.

Other institutional investors have also modified their holdings of the company. KBC Group NV increased its position in shares of Park National by 55.8% in the fourth quarter. KBC Group NV now owns 787 shares of the company’s stock valued at $135,000 after buying an additional 282 shares in the last quarter. PDS Planning Inc acquired a new stake in Park National in the 3rd quarter valued at $228,000. Colton Groome Financial Advisors LLC purchased a new stake in Park National in the 4th quarter worth $236,000. Geneos Wealth Management Inc. acquired a new position in Park National during the fourth quarter worth $259,000. Finally, CWA Asset Management Group LLC purchased a new position in Park National during the third quarter valued at $263,000. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PRK shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $178.00 price objective (down previously from $187.00) on shares of Park National in a research report on Wednesday, January 29th. Piper Sandler began coverage on Park National in a research report on Thursday. They set a “neutral” rating and a $185.50 price target for the company.

Park National Stock Performance

Shares of PRK opened at $166.83 on Friday. Park National Co. has a 1 year low of $123.08 and a 1 year high of $207.99. The stock has a market capitalization of $2.70 billion, a PE ratio of 18.33 and a beta of 0.73. 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 50-day simple moving average of $171.56 and a 200-day simple moving average of $174.04.

Park National Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.57%. The ex-dividend date is Friday, February 14th. This is a boost from Park National’s previous quarterly dividend of $1.06. Park National’s payout ratio is 45.97%.

About Park National

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.