Park National’s (PRK) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

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

A number of other equities research analysts have also weighed in on PRK. Piper Sandler started coverage on shares of Park National in a report on Friday, February 23rd. They set a neutral rating and a $130.00 price objective on the stock. StockNews.com raised shares of Park National from a sell rating to a hold rating in a report on Monday.

Park National Price Performance

NYSE PRK opened at $137.25 on Wednesday. The firm’s fifty day simple moving average is $129.95 and its two-hundred day simple moving average is $122.78. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. Park National has a 12-month low of $90.28 and a 12-month high of $137.52. The firm has a market capitalization of $2.21 billion, a P/E ratio of 16.15 and a beta of 0.70.

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

Park National Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRK. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Park National during the fourth quarter valued at $31,000. Numerai GP LLC acquired a new position in Park National during the third quarter valued at $200,000. CWA Asset Management Group LLC acquired a new position in shares of Park National in the fourth quarter worth about $208,000. Nisa Investment Advisors LLC raised its position in shares of Park National by 60.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,609 shares of the company’s stock worth $214,000 after acquiring an additional 609 shares during the period. Finally, FORVIS Wealth Advisors LLC acquired a new position in shares of Park National in the fourth quarter worth about $238,000. 62.65% of the stock is currently owned by institutional investors and hedge funds.

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.