Park National (NYSE:PRK) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Park National (NYSE:PRK)‘s stock had its “market perform” rating reaffirmed by Keefe, Bruyette & Woods in a note issued to investors on Wednesday, Benzinga reports. They currently have a $130.00 target price on the stock, up from their previous target price of $125.00. Keefe, Bruyette & Woods’ price objective would indicate a potential downside of 3.55% from the company’s current price.

Several other analysts also recently weighed in on PRK. Piper Sandler began coverage on Park National in a research note on Friday, February 23rd. They set a “neutral” rating and a $130.00 target price for the company. StockNews.com upgraded Park National from a “sell” rating to a “hold” rating in a research note on Monday.

Park National Stock Down 0.4 %

NYSE PRK traded down $0.52 during trading hours on Wednesday, hitting $134.79. The company had a trading volume of 10,307 shares, compared to its average volume of 44,587. Park National has a fifty-two week low of $90.28 and a fifty-two week high of $137.26. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 17.06 and a beta of 0.70. 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’s 50 day moving average is $129.75 and its 200 day moving average is $122.68.

Park National (NYSE:PRK) last announced its quarterly earnings results on Friday, April 19th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.30. Park National had a return on equity of 12.28% and a net margin of 22.03%. The firm had revenue of $121.82 million during the quarter, compared to the consensus estimate of $118.29 million. Sell-side analysts anticipate that Park National will post 7.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Park National

Several large investors have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in Park National by 621.0% in the third quarter. Victory Capital Management Inc. now owns 38,517 shares of the company’s stock worth $3,641,000 after acquiring an additional 33,175 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Park National by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock worth $226,009,000 after acquiring an additional 12,925 shares during the last quarter. GSA Capital Partners LLP bought a new position in Park National in the third quarter worth about $1,087,000. Dimensional Fund Advisors LP lifted its holdings in Park National by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 457,745 shares of the company’s stock worth $60,818,000 after acquiring an additional 10,266 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in 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 acquiring an additional 9,429 shares during the last quarter. 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.