Teacher Retirement System of Texas Has $843,000 Stock Holdings in Park National Co. $PRK

Teacher Retirement System of Texas lifted its holdings in shares of Park National Co. (NYSE:PRK) by 15.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,042 shares of the company’s stock after purchasing an additional 658 shares during the period. Teacher Retirement System of Texas’ holdings in Park National were worth $843,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Livelsberger Financial Advisory acquired a new position in Park National in the second quarter valued at approximately $27,000. CWM LLC increased its stake in shares of Park National by 66.4% in the 2nd quarter. CWM LLC now owns 223 shares of the company’s stock valued at $37,000 after acquiring an additional 89 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Park National by 18.7% during the 2nd quarter. GAMMA Investing LLC now owns 533 shares of the company’s stock valued at $89,000 after acquiring an additional 84 shares during the period. AlphaQuest LLC bought a new position in Park National during the first quarter worth $93,000. Finally, Stephens Consulting LLC grew its holdings in Park National by 22,760.0% in the second quarter. Stephens Consulting LLC now owns 1,143 shares of the company’s stock worth $191,000 after purchasing an additional 1,138 shares during the period. 62.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PRK. Keefe, Bruyette & Woods upped their price objective on shares of Park National from $175.00 to $180.00 and gave the company a “market perform” rating in a report on Wednesday, October 29th. Zacks Research downgraded Park National from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Piper Sandler dropped their price target on Park National from $185.00 to $176.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. Finally, Raymond James Financial initiated coverage on Park National in a report on Monday, July 21st. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Park National presently has an average rating of “Hold” and an average price target of $178.00.

Park National Price Performance

Shares of NYSE PRK opened at $156.22 on Friday. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 16.78 and a beta of 0.76. 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 fifty-two week low of $137.97 and a fifty-two week high of $207.99. The firm’s 50-day simple moving average is $162.12 and its 200 day simple moving average is $163.93.

Park National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.2%. Park National’s payout ratio is presently 39.41%.

Park National Company Profile

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.