Stratos Wealth Partners LTD. Has $2.15 Million Stock Holdings in Park National Co. (NYSE:PRK)

Stratos Wealth Partners LTD. lowered its position in shares of Park National Co. (NYSE:PRK) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,552 shares of the company’s stock after selling 60 shares during the quarter. Stratos Wealth Partners LTD. owned 0.08% of Park National worth $2,152,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp boosted its holdings in Park National by 0.5% during the third quarter. State Street Corp now owns 632,567 shares of the company’s stock worth $106,259,000 after purchasing an additional 3,318 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Park National by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 334,188 shares of the company’s stock valued at $56,148,000 after acquiring an additional 3,165 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Park National by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 179,570 shares of the company’s stock valued at $30,164,000 after acquiring an additional 2,119 shares during the last quarter. Barclays PLC raised its holdings in Park National by 161.7% during the third quarter. Barclays PLC now owns 28,528 shares of the company’s stock worth $4,792,000 after acquiring an additional 17,627 shares in the last quarter. Finally, Citigroup Inc. boosted its position in Park National by 30.6% during the third quarter. Citigroup Inc. now owns 23,113 shares of the company’s stock valued at $3,883,000 after purchasing an additional 5,416 shares during the last quarter. 62.65% of the stock is owned by institutional investors.

Park National Stock Down 1.8 %

Park National stock opened at $169.79 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95. The company’s 50-day moving average is $175.72 and its 200-day moving average is $174.65. The firm has a market capitalization of $2.74 billion, a PE ratio of 18.24 and a beta of 0.73. Park National Co. has a fifty-two week low of $123.08 and a fifty-two week high of $207.99.

Park National Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.52%. This is a boost from Park National’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, February 14th. Park National’s dividend payout ratio (DPR) is presently 45.54%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $178.00 price target (down previously from $187.00) on shares of Park National in a research report on Wednesday, January 29th.

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.