Park National (NYSE:PRK) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Park National (NYSE:PRK) from a sell rating to a hold rating in a research report report published on Monday morning.

Separately, Piper Sandler assumed coverage on shares of Park National in a report on Friday, February 23rd. They issued a neutral rating and a $130.00 price objective on the stock.

Park National Stock Performance

Shares of PRK stock opened at $134.78 on Monday. Park National has a 12 month low of $90.28 and a 12 month high of $137.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $2.17 billion, a P/E ratio of 16.41 and a beta of 0.70. The company’s fifty day moving average price is $130.01 and its two-hundred day moving average price is $122.86.

Park National (NYSE:PRK) last issued its quarterly earnings data on Monday, January 22nd. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.09. Park National had a net margin of 22.03% and a return on equity of 12.28%. The firm had revenue of $140.73 million for the quarter, compared to analyst estimates of $119.14 million. On average, research analysts anticipate that Park National will post 7.92 earnings per share for the current fiscal year.

Park National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, May 16th. Park National’s payout ratio is currently 53.67%.

Institutional Investors Weigh In On Park National

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Park National during the 4th quarter valued at about $31,000. Numerai GP LLC bought a new stake in shares of Park National during the 3rd quarter valued at about $200,000. CWA Asset Management Group LLC bought a new stake in shares of Park National during the 4th quarter valued at about $208,000. Nisa Investment Advisors LLC grew its position in shares of Park National by 60.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,609 shares of the company’s stock valued at $214,000 after buying an additional 609 shares during the last quarter. Finally, FORVIS Wealth Advisors LLC acquired a new position in Park National during the 4th quarter valued at about $238,000. 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.