Credit Suisse AG Has $2.24 Million Stake in Park National Co. (NYSE:PRK)

Credit Suisse AG raised its stake in shares of Park National Co. (NYSE:PRK) by 3.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,890 shares of the company’s stock after buying an additional 701 shares during the quarter. Credit Suisse AG owned about 0.12% of Park National worth $2,240,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Captrust Financial Advisors grew its holdings in Park National by 2.3% during the second quarter. Captrust Financial Advisors now owns 3,759 shares of the company’s stock valued at $456,000 after purchasing an additional 85 shares during the period. FMR LLC increased its position in shares of Park National by 1.5% in the 2nd quarter. FMR LLC now owns 5,973 shares of the company’s stock valued at $724,000 after buying an additional 89 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Park National by 1.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 9,420 shares of the company’s stock worth $1,326,000 after buying an additional 95 shares during the period. Royal Bank of Canada raised its stake in Park National by 19.8% during the 3rd quarter. Royal Bank of Canada now owns 582 shares of the company’s stock worth $73,000 after buying an additional 96 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Park National by 0.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 14,617 shares of the company’s stock valued at $1,772,000 after acquiring an additional 98 shares during the period. 52.27% of the stock is owned by institutional investors.

Park National Stock Up 1.8 %

PRK stock opened at $103.59 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $1.67 billion, a P/E ratio of 12.05 and a beta of 0.74. Park National Co. has a fifty-two week low of $90.28 and a fifty-two week high of $151.59. The business has a 50-day moving average of $105.82 and a 200-day moving average of $114.16.

Park National (NYSE:PRK) last released its quarterly earnings results on Monday, July 24th. The company reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.06). Park National had a return on equity of 11.97% and a net margin of 25.23%. The firm had revenue of $116.59 million for the quarter, compared to analyst estimates of $119.98 million. On average, sell-side analysts anticipate that Park National Co. will post 7.81 earnings per share for the current fiscal year.

Park National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be paid a $1.05 dividend. The ex-dividend date is Thursday, August 17th. This represents a $4.20 annualized dividend and a yield of 4.05%. Park National’s payout ratio is currently 48.84%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PRK shares. Piper Sandler lowered Park National from a “neutral” rating to an “underweight” rating and set a $103.00 price objective for the company. in a research report on Monday, May 15th. StockNews.com began coverage on shares of Park National in a report on Thursday, August 17th. They set a “sell” rating on the stock.

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 for individual customers.