Park National Co. (NYSE:PRK – Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $203.40, but opened at $196.00. Park National shares last traded at $201.4450, with a volume of 12,811 shares changing hands.
Analyst Upgrades and Downgrades
A number of research analysts have commented on PRK shares. Piper Sandler increased their price objective on shares of Park National from $189.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Raymond James Financial assumed coverage on Park National in a research report on Tuesday, July 7th. They issued a “market perform” rating on the stock. Finally, Keefe, Bruyette & Woods raised their target price on Park National from $180.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $211.00.
Check Out Our Latest Analysis on PRK
Park National Stock Performance
Park National Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 21st will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Park National’s dividend payout ratio (DPR) is presently 39.39%.
Institutional Trading of Park National
Several large investors have recently added to or reduced their stakes in PRK. MassMutual Private Wealth & Trust FSB raised its position in shares of Park National by 253.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 152 shares of the company’s stock valued at $28,000 after purchasing an additional 109 shares during the period. EverSource Wealth Advisors LLC lifted its position in Park National by 629.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock worth $29,000 after acquiring an additional 151 shares during the last quarter. Danske Bank A S grew its position in shares of Park National by 100.0% in the fourth quarter. Danske Bank A S now owns 200 shares of the company’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Quarry LP grew its position in shares of Park National by 878.3% in the third quarter. Quarry LP now owns 225 shares of the company’s stock valued at $37,000 after purchasing an additional 202 shares during the last quarter. Finally, Sarver Vrooman Wealth Advisors bought a new position in shares of Park National in the fourth quarter worth about $46,000. 62.65% of the stock is owned by institutional investors.
About Park National
Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company’s main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.
Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.
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