Park National (NYSE:PRK) Sets New 1-Year High at $138.60

Park National Co. (NYSE:PRK)’s stock price reached a new 52-week high on Friday . The stock traded as high as $138.60 and last traded at $137.80, with a volume of 1893 shares traded. The stock had previously closed at $136.40.

Wall Street Analyst Weigh In

PRK has been the topic of a number of research analyst reports. Piper Sandler began coverage on shares of Park National in a report on Friday, February 23rd. They issued a “neutral” rating and a $130.00 price target on the stock. StockNews.com upgraded shares of Park National from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $130.00 price target (up previously from $125.00) on shares of Park National in a research note on Wednesday, April 24th.

Park National Stock Up 0.3 %

The firm has a market cap of $2.21 billion, a P/E ratio of 17.32 and a beta of 0.70. 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 business has a 50-day moving average price of $130.69 and a 200-day moving average price of $124.64.

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

Park National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, May 16th. Park National’s payout ratio is 53.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Park National by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock worth $226,009,000 after buying an additional 12,925 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Park National by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 457,745 shares of the company’s stock valued at $60,818,000 after acquiring an additional 10,266 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Park National by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 163,532 shares of the company’s stock worth $21,727,000 after purchasing an additional 6,724 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Park National by 44.8% during the fourth quarter. Victory Capital Management Inc. now owns 55,788 shares of the company’s stock worth $7,412,000 after purchasing an additional 17,271 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Park National by 5.0% during the third quarter. American Century Companies Inc. now owns 54,207 shares of the company’s stock worth $5,124,000 after purchasing an additional 2,579 shares in the last quarter. 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.