Virtu Financial LLC Has $705,000 Stock Position in Park National Co. $PRK

Virtu Financial LLC increased its stake in shares of Park National Co. (NYSE:PRK) by 191.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,635 shares of the company’s stock after acquiring an additional 3,045 shares during the quarter. Virtu Financial LLC’s holdings in Park National were worth $705,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PRK. Beacon Pointe Advisors LLC acquired a new stake in Park National in the 4th quarter worth $415,000. State of Tennessee Department of Treasury lifted its stake in shares of Park National by 32.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 6,088 shares of the company’s stock valued at $992,000 after buying an additional 1,481 shares during the period. Voloridge Investment Management LLC grew its position in Park National by 74.8% during the fourth quarter. Voloridge Investment Management LLC now owns 24,161 shares of the company’s stock worth $3,677,000 after buying an additional 10,338 shares in the last quarter. SummitTX Capital L.P. bought a new position in Park National during the fourth quarter valued at about $362,000. Finally, Tudor Investment Corp ET AL increased its stake in Park National by 52.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 49,267 shares of the company’s stock valued at $7,497,000 after acquiring an additional 16,982 shares during the period. 62.65% of the stock is currently owned by institutional investors and hedge funds.

Park National Stock Down 0.0%

Shares of PRK opened at $176.55 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $172.25 and a two-hundred day moving average price of $166.28. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 18.96 and a beta of 0.70. Park National Co. has a 12 month low of $149.06 and a 12 month high of $182.34.

Park National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, May 15th. Park National’s dividend payout ratio is currently 40.33%.

Analyst Upgrades and Downgrades

A number of analysts have commented on PRK shares. Piper Sandler raised their price objective on Park National from $183.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Zacks Research cut Park National from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $184.00.

About Park National

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.