Park National (NYSE:PRK) Sets New 1-Year High at $137.52

Park National Co. (NYSE:PRK) shares hit a new 52-week high on Wednesday . The stock traded as high as $137.52 and last traded at $137.49, with a volume of 50557 shares traded. The stock had previously closed at $135.31.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PRK. Piper Sandler began coverage on shares of Park National in a research report on Friday, February 23rd. They issued a “neutral” rating and a $130.00 price target for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $130.00 price target (up previously from $125.00) on shares of Park National in a research report on Wednesday. Finally, StockNews.com raised shares of Park National from a “sell” rating to a “hold” rating in a research report on Monday.

Park National Price Performance

The stock’s 50-day moving average is $130.10 and its 200 day moving average is $123.13. 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 company has a market cap of $2.17 billion, a PE ratio of 17.04 and a beta of 0.70.

Park National (NYSE:PRK) last posted its earnings results on Friday, April 19th. The company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.30. Park National had a net margin of 22.03% and a return on equity of 12.28%. The company had revenue of $121.82 million during the quarter, compared to analysts’ expectations of $118.29 million. On average, equities analysts anticipate that Park National Co. will post 7.92 earnings per share for the current fiscal year.

Park National Dividend Announcement

The company 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 is Thursday, May 16th. This represents a $4.24 dividend on an annualized basis and a yield of 3.15%. Park National’s payout ratio is 53.67%.

Institutional Investors Weigh In On Park National

A number of hedge funds and other institutional investors have recently bought and sold shares of PRK. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Park National in the fourth quarter worth $31,000. Numerai GP LLC purchased a new position in shares of Park National in the third quarter worth $200,000. CWA Asset Management Group LLC purchased a new position in shares of Park National in the fourth quarter worth $208,000. Nisa Investment Advisors LLC raised its holdings 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 buying an additional 609 shares during the last quarter. Finally, FORVIS Wealth Advisors LLC purchased a new position in shares of Park National in the fourth quarter worth $238,000. Hedge funds and other 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.