Park National (NYSE:PRK) Receives “Market Perform” Rating from Keefe, Bruyette & Woods

Park National (NYSE:PRK)‘s stock had its “market perform” rating restated by Keefe, Bruyette & Woods in a report released on Wednesday,Benzinga reports. They currently have a $178.00 price target on the stock, down from their prior price target of $187.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 3.37% from the company’s previous close.

Park National Price Performance

NYSE PRK traded up $0.80 on Wednesday, reaching $172.19. The company’s stock had a trading volume of 10,377 shares, compared to its average volume of 62,207. Park National has a twelve month low of $123.08 and a twelve month high of $207.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50 day moving average is $179.09 and its two-hundred day moving average is $174.59. The stock has a market cap of $2.78 billion, a PE ratio of 20.37 and a beta of 0.74.

Institutional Investors Weigh In On Park National

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position in shares of Park National by 5.0% during the second quarter. The Manufacturers Life Insurance Company now owns 8,414 shares of the company’s stock worth $1,198,000 after purchasing an additional 402 shares during the period. Algert Global LLC purchased a new stake in Park National during the second quarter valued at about $231,000. Creative Planning lifted its stake in Park National by 13.2% during the second quarter. Creative Planning now owns 4,856 shares of the company’s stock valued at $691,000 after buying an additional 565 shares in the last quarter. Creekside Partners acquired a new position in shares of Park National in the second quarter worth about $579,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Park National during the second quarter valued at approximately $285,000. 62.65% of the stock is owned by institutional investors.

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.