Park National (NYSE:PRK) Trading Up 0.9% – What’s Next?

Park National Co. (NYSE:PRK)’s stock price was up 0.9% during trading on Monday . The company traded as high as $162.12 and last traded at $161.34. Approximately 51,222 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 55,758 shares. The stock had previously closed at $159.98.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PRK shares. Zacks Research cut shares of Park National from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Piper Sandler cut their price target on Park National from $185.00 to $176.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. Finally, Keefe, Bruyette & Woods lifted their price target on Park National from $175.00 to $180.00 and gave the stock a “market perform” rating in a report on Wednesday, October 29th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $178.00.

Park National Stock Performance

The firm has a fifty day simple moving average of $158.34 and a 200-day simple moving average of $161.91. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.59 billion, a PE ratio of 17.33 and a beta of 0.73.

Institutional Investors Weigh In On Park National

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRK. State of Alaska Department of Revenue boosted its holdings in shares of Park National by 1.6% in the fourth quarter. State of Alaska Department of Revenue now owns 7,997 shares of the company’s stock valued at $1,216,000 after acquiring an additional 127 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new stake in Park National in the 4th quarter valued at $76,000. Mechanics Financial Corp boosted its stake in Park National by 164.7% during the 4th quarter. Mechanics Financial Corp now owns 728 shares of the company’s stock worth $111,000 after purchasing an additional 453 shares during the period. Cypress Wealth Services LLC purchased a new position in Park National during the 4th quarter worth $799,000. Finally, Fort Washington Investment Advisors Inc. OH grew its position in Park National by 16.8% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 7,418 shares of the company’s stock worth $1,129,000 after purchasing an additional 1,066 shares during the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Company Profile

Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company’s main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.

Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.