Park National (NYSE:PRK) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Park National (NYSE:PRK) from a sell rating to a hold rating in a research report report published on Monday.

Separately, Piper Sandler initiated coverage on Park National in a report on Friday, February 23rd. They issued a neutral rating and a $130.00 price objective on the stock.

Park National Stock Performance

Shares of NYSE PRK opened at $137.25 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s fifty day moving average price is $129.95 and its two-hundred day moving average price is $122.78. Park National has a one year low of $90.28 and a one year high of $137.52. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 17.37 and a beta of 0.70.

Park National (NYSE:PRK) last issued its quarterly earnings data on Monday, January 22nd. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.09. Park National had a return on equity of 12.28% and a net margin of 22.03%. The firm had revenue of $140.73 million for the quarter, compared to analyst estimates of $119.14 million. On average, equities analysts forecast that Park National will post 7.6 EPS for the current year.

Park National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $1.06 per share. The ex-dividend date is Thursday, May 16th. This represents a $4.24 annualized dividend and a dividend yield of 3.09%. Park National’s dividend payout ratio is currently 53.67%.

Institutional Trading of Park National

Institutional investors and hedge funds have recently modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Park National during the 4th quarter worth $31,000. CWA Asset Management Group LLC bought a new stake in shares of Park National during the 4th quarter worth $208,000. Nisa Investment Advisors LLC lifted its position in shares of Park National by 60.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,609 shares of the company’s stock worth $214,000 after buying an additional 609 shares during the last quarter. FORVIS Wealth Advisors LLC bought a new position in Park National in the fourth quarter valued at about $238,000. Finally, Fruth Investment Management bought a new position in Park National in the fourth quarter valued at about $239,000. 62.65% of the stock is currently owned by institutional investors.

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.