Park National (NYSE:PRK) Sets New 12-Month High at $137.52

Park National Co. (NYSE:PRK) reached a new 52-week high during trading on Wednesday . The stock traded as high as $137.52 and last traded at $137.49, with a volume of 50557 shares traded. The stock had previously closed at $135.31.

Analyst Upgrades and Downgrades

PRK has been the subject of several recent analyst reports. Piper Sandler assumed 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 for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $130.00 price target (up from $125.00) on shares of Park National in a research note on Wednesday. Finally, StockNews.com upgraded shares of Park National from a “sell” rating to a “hold” rating in a research report on Monday.

Park National Stock Up 1.4 %

The business’s fifty day moving average price is $129.75 and its 200 day moving average price is $122.68. The company has a market capitalization of $2.21 billion, a P/E ratio of 17.06 and a beta of 0.70. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17.

Park National (NYSE:PRK) last released its quarterly earnings data on Friday, April 19th. The company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.30. The company had revenue of $121.82 million during the quarter, compared to the consensus estimate of $118.29 million. Park National had a net margin of 22.03% and a return on equity of 12.28%. As a group, equities research analysts predict that Park National Co. will post 7.6 earnings per share for the current fiscal year.

Park National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Thursday, May 16th. Park National’s dividend payout ratio (DPR) is currently 53.67%.

Institutional Investors Weigh In On Park National

A number of hedge funds have recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Park National in the 4th quarter valued at about $31,000. Numerai GP LLC acquired a new stake in shares of Park National during the 3rd quarter worth approximately $200,000. CWA Asset Management Group LLC bought a new position in Park National during the 4th quarter worth approximately $208,000. Nisa Investment Advisors LLC boosted its stake in 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 acquiring an additional 609 shares during the last quarter. Finally, FORVIS Wealth Advisors LLC bought a new position in Park National during the 4th quarter worth approximately $238,000. Institutional investors and hedge funds 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.