Park National (NYSE:PRK) Hits New 12-Month High at $144.40

Park National Co. (NYSE:PRKGet Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $144.40 and last traded at $142.21, with a volume of 16012 shares changing hands. The stock had previously closed at $142.34.

Analyst Ratings Changes

PRK has been the topic of several research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $130.00 target price (up from $125.00) on shares of Park National in a research report on Wednesday, April 24th. downgraded Park National from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th.

View Our Latest Stock Analysis on PRK

Park National Stock Performance

The firm’s 50 day moving average price is $137.17 and its 200-day moving average price is $132.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $2.31 billion, a PE ratio of 16.99 and a beta of 0.71.

Park National (NYSE:PRKGet Free Report) last issued its quarterly earnings results on Friday, April 19th. The company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.30. The firm had revenue of $121.82 million for the quarter, compared to analyst estimates of $118.29 million. Park National had a net margin of 22.03% and a return on equity of 12.13%. On average, research analysts expect that Park National Co. will post 8.12 EPS for the current year.

Park National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Thursday, May 16th. Park National’s dividend payout ratio is presently 53.67%.

Institutional Inflows and Outflows

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

About Park National

(Get Free Report)

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.

Further Reading

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