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

Keefe, Bruyette & Woods reissued their market perform rating on shares of Park National (NYSE:PRK) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $130.00 price target on the stock, up from their previous price target of $125.00.

Other equities research analysts have also issued research reports about the company. Piper Sandler started coverage on Park National in a research note on Friday, February 23rd. They issued a neutral rating and a $130.00 target price for the company. StockNews.com raised Park National from a sell rating to a hold rating in a research report on Monday.

Park National Trading Up 1.4 %

NYSE PRK opened at $137.25 on Wednesday. Park National has a 1-year low of $90.28 and a 1-year high of $137.52. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $129.95 and a 200-day moving average of $122.78. The firm has a market cap of $2.21 billion, a PE ratio of 16.15 and a beta of 0.70.

Park National (NYSE:PRK) last released its earnings results on Monday, January 22nd. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.09. Park National had a return on equity of 12.28% and a net margin of 22.03%. The company had revenue of $140.73 million during the quarter, compared to analyst estimates of $119.14 million. As a group, sell-side analysts forecast that Park National will post 7.92 EPS for the current year.

Park National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.06 per share. The ex-dividend date is Thursday, May 16th. This represents a $4.24 annualized dividend and a yield of 3.09%. Park National’s dividend payout ratio is 53.67%.

Institutional Trading of Park National

Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in Park National by 9.6% during the 3rd quarter. Rhumbline Advisers now owns 48,244 shares of the company’s stock valued at $4,560,000 after purchasing an additional 4,225 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Park National by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 156,808 shares of the company’s stock valued at $14,821,000 after buying an additional 7,655 shares during the period. Illinois Municipal Retirement Fund bought a new position in shares of Park National during the 3rd quarter valued at $803,000. Mariner LLC lifted its holdings in shares of Park National by 11.0% during the 3rd 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 during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Park National by 6,882.5% during the 4th quarter. International Assets Investment Management LLC now owns 9,566 shares of the company’s stock valued at $1,271,000 after buying an additional 9,429 shares during the period. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

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.