Park National (NYSE:PRK) Stock Price Up 0.3% – Here’s What Happened

Park National Co. (NYSE:PRK)’s share price rose 0.3% during mid-day trading on Monday . The stock traded as high as $175.03 and last traded at $173.51. Approximately 63,462 shares traded hands during trading, a decline of 23% from the average daily volume of 81,935 shares. The stock had previously closed at $173.04.

Analyst Ratings Changes

PRK has been the subject of several research reports. Zacks Research lowered Park National from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Piper Sandler increased their target price on shares of Park National from $183.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $184.00.

Park National Trading Up 0.2%

The company has a fifty day moving average of $170.71 and a two-hundred day moving average of $165.06. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 18.94 and a beta of 0.70.

Park National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, May 15th. Park National’s payout ratio is 40.33%.

Institutional Investors Weigh In On Park National

Several hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in Park National by 629.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock valued at $29,000 after purchasing an additional 151 shares during the period. Danske Bank A S boosted its holdings in Park National by 100.0% in the 4th quarter. Danske Bank A S now owns 200 shares of the company’s stock valued at $30,000 after purchasing an additional 100 shares during the period. Quarry LP boosted its holdings in Park National by 878.3% in the 3rd quarter. Quarry LP now owns 225 shares of the company’s stock valued at $37,000 after purchasing an additional 202 shares during the period. Sarver Vrooman Wealth Advisors bought a new stake in Park National in the 4th quarter valued at $46,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in Park National in the 4th quarter valued at $76,000. 62.65% of the stock is owned by institutional investors.

About Park National

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.