Park National (NYSE:PRK) Downgraded by StockNews.com

StockNews.com lowered shares of Park National (NYSE:PRKFree Report) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Several other analysts have also issued reports on the stock. 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. Keefe, Bruyette & Woods reiterated a market perform rating and set a $130.00 price objective (up from $125.00) on shares of Park National in a research note on Wednesday, April 24th.

Get Our Latest Analysis on PRK

Park National Trading Down 1.6 %

Shares of NYSE:PRK opened at $134.26 on Wednesday. Park National has a 12-month low of $90.28 and a 12-month high of $144.01. The firm has a fifty day moving average of $134.80 and a two-hundred day moving average of $131.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $2.17 billion, a P/E ratio of 16.99 and a beta of 0.71.

Park National (NYSE:PRKGet Free Report) last posted its earnings results on Friday, April 19th. The company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.30. Park National had a return on equity of 12.13% and a net margin of 22.03%. The firm had revenue of $121.82 million during the quarter, compared to analyst estimates of $118.29 million. On average, equities analysts expect that Park National will post 8.12 EPS for the current fiscal year.

Park National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.06 per share. The ex-dividend date was Thursday, May 16th. This represents a $4.24 annualized dividend and a dividend yield of 3.16%. Park National’s payout ratio is currently 53.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC raised its position in Park National by 1.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 8,650 shares of the company’s stock valued at $818,000 after buying an additional 114 shares during the last quarter. Texas Permanent School Fund Corp grew its position in shares of Park National by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 12,553 shares of the company’s stock valued at $1,705,000 after acquiring an additional 162 shares during the period. ProShare Advisors LLC increased its position in Park National by 7.4% during the first quarter. ProShare Advisors LLC now owns 2,890 shares of the company’s stock worth $393,000 after buying an additional 198 shares during the last quarter. Swiss National Bank raised its stake in Park National by 0.6% in the 3rd quarter. Swiss National Bank now owns 35,600 shares of the company’s stock valued at $3,365,000 after acquiring an additional 200 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Park National in the fourth quarter valued at about $31,000. Institutional investors own 62.65% of the company’s stock.

Park National Company Profile

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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.

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