StockNews.com upgraded shares of Park National (NYSE:PRK – Free Report) from a sell rating to a hold rating in a research note released on Monday.
Separately, Piper Sandler started coverage on Park National in a research note on Friday, February 23rd. They issued a neutral rating and a $130.00 price objective for the company.
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Park National Trading Up 4.6 %
Park National (NYSE:PRK – Get Free Report) last posted its earnings results on Monday, January 22nd. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.09. The business had revenue of $140.73 million for the quarter, compared to analysts’ expectations of $119.14 million. Park National had a return on equity of 12.28% and a net margin of 22.03%. On average, sell-side analysts expect that Park National will post 7.6 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Park National
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Park National during the 4th quarter worth approximately $31,000. Numerai GP LLC acquired a new stake in Park National in the third quarter valued at about $200,000. CWA Asset Management Group LLC acquired a new position in Park National during the 4th quarter worth approximately $208,000. Nisa Investment Advisors LLC raised its stake 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 in the last quarter. Finally, FORVIS Wealth Advisors LLC acquired a new stake in shares of Park National in the 4th quarter valued at approximately $238,000. 62.65% of the stock is owned by hedge funds and other 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.
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