Park National’s (PRK) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Park National (NYSE:PRK)‘s stock had its “market perform” rating reiterated by analysts at Keefe, Bruyette & Woods in a report released on Wednesday, Benzinga reports. They presently have a $130.00 price target on the stock, up from their prior price target of $125.00. Keefe, Bruyette & Woods’ price target would indicate a potential downside of 3.55% from the company’s current price.

PRK has been the topic of a number of other reports. StockNews.com upgraded Park National from a “sell” rating to a “hold” rating in a research note on Monday. Piper Sandler started coverage on Park National in a report on Friday, February 23rd. They set a “neutral” rating and a $130.00 price target for the company.

Park National Trading Down 2.0 %

NYSE:PRK opened at $134.78 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $130.01 and its 200-day moving average is $122.86. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 16.41 and a beta of 0.70. Park National has a 12 month low of $90.28 and a 12 month high of $137.52.

Park National (NYSE:PRK) last announced its earnings results on Monday, January 22nd. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.91 by $0.09. Park National had a net margin of 22.03% and a return on equity of 12.28%. The firm had revenue of $140.73 million for the quarter, compared to the consensus estimate of $119.14 million. Equities analysts anticipate that Park National will post 7.92 EPS for the current year.

Hedge Funds Weigh In On Park National

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRK. Investment Partners LTD. acquired a new stake in shares of Park National during the 1st quarter worth approximately $378,000. Vanguard Group Inc. boosted its stake in Park National by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock worth $226,009,000 after buying an additional 12,925 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in Park National by 68.9% in the 4th quarter. Rafferty Asset Management LLC now owns 10,892 shares of the company’s stock valued at $1,447,000 after buying an additional 4,443 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Park National in the 4th quarter valued at $208,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Park National during the 4th quarter worth about $31,000. 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.