Park National (NYSE:PRK) Sets New 52-Week High at $140.45

Park National Co. (NYSE:PRK)’s share price hit a new 52-week high on Thursday . The company traded as high as $140.45 and last traded at $140.18, with a volume of 60305 shares. The stock had previously closed at $137.89.

Wall Street Analysts Forecast Growth

PRK has been the topic of several analyst reports. Piper Sandler initiated coverage on Park National in a report on Friday, February 23rd. They set a “neutral” rating and a $130.00 price objective on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $130.00 price target (up previously from $125.00) on shares of Park National in a report on Wednesday, April 24th. Finally, StockNews.com raised shares of Park National from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd.

Park National Price Performance

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.26 billion, a PE ratio of 17.45 and a beta of 0.70. The company’s 50 day moving average price is $131.29 and its 200-day moving average price is $125.53.

Park National (NYSE:PRK) last announced its quarterly earnings results on Friday, April 19th. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.85 by $0.30. The company had revenue of $121.82 million during the quarter, compared to analyst estimates of $118.29 million. Park National had a return on equity of 12.13% and a net margin of 22.03%. On average, sell-side analysts forecast that Park National Co. will post 7.92 earnings per share for the current fiscal year.

Park National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a dividend of $1.06 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.24 dividend on an annualized basis and a yield of 3.02%. Park National’s dividend payout ratio (DPR) is 53.67%.

Hedge Funds Weigh In On Park National

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in Park National by 9.6% during the 3rd quarter. Rhumbline Advisers now owns 48,244 shares of the company’s stock worth $4,560,000 after purchasing an additional 4,225 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Park National by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 156,808 shares of the company’s stock worth $14,821,000 after purchasing an additional 7,655 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of Park National in the third quarter worth about $803,000. International Assets Investment Management LLC boosted its position in shares of Park National by 6,882.5% in the fourth quarter. International Assets Investment Management LLC now owns 9,566 shares of the company’s stock worth $1,271,000 after buying an additional 9,429 shares during the period. Finally, Mariner LLC grew its stake in shares of Park National by 11.0% in the third quarter. Mariner LLC now owns 10,853 shares of the company’s stock valued at $1,026,000 after buying an additional 1,077 shares in the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.

Park National Company Profile

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.