Park National (NYSE:PRK) Sets New 12-Month High at $138.60

Park National Co. (NYSE:PRK) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $138.60 and last traded at $137.80, with a volume of 1893 shares trading hands. The stock had previously closed at $136.40.

Analyst Ratings Changes

A number of research firms recently commented on PRK. Piper Sandler initiated coverage on shares of Park National in a research report on Friday, February 23rd. They issued a “neutral” rating and a $130.00 target price on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $130.00 target price (up from $125.00) on shares of Park National in a research report on Wednesday, April 24th. Finally, StockNews.com upgraded shares of Park National from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd.

Park National Trading Up 0.3 %

The company has a 50 day simple moving average of $130.69 and a 200 day simple moving average of $124.64. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.21 billion, a PE ratio of 17.32 and a beta of 0.70.

Park National (NYSE:PRK) last issued its quarterly earnings results on Friday, April 19th. The company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.30. The firm had revenue of $121.82 million during the quarter, compared to the consensus estimate of $118.29 million. Park National had a return on equity of 12.28% and a net margin of 22.03%. Analysts predict that Park National Co. will post 7.92 earnings per share for the current fiscal year.

Park National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, May 16th. Park National’s dividend payout ratio (DPR) is 53.67%.

Institutional Investors Weigh In On Park National

Several institutional investors have recently modified their holdings of PRK. Kestra Advisory Services LLC grew its holdings in Park National by 1.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 8,650 shares of the company’s stock valued at $818,000 after buying an additional 114 shares during the last quarter. Swiss National Bank boosted its stake in Park National by 0.6% in the 3rd quarter. Swiss National Bank now owns 35,600 shares of the company’s stock worth $3,365,000 after buying an additional 200 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Park National by 6.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,088 shares of the company’s stock valued at $292,000 after buying an additional 200 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Park National in the fourth quarter worth approximately $31,000. Finally, Stratos Wealth Partners LTD. grew its holdings in Park National by 6.3% in the third quarter. Stratos Wealth Partners LTD. now owns 5,994 shares of the company’s stock valued at $567,000 after purchasing an additional 357 shares during the period. Hedge funds and other institutional investors own 62.65% of the company’s stock.

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.