Park National (NYSE:PRK) Raised to “Strong-Buy” at Zacks Research

Park National (NYSE:PRK) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on PRK. Keefe, Bruyette & Woods boosted their target price on Park National from $175.00 to $180.00 and gave the stock a “market perform” rating in a report on Wednesday, October 29th. Piper Sandler lifted their price target on shares of Park National from $176.00 to $183.00 and gave the company a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.50.

Park National Price Performance

Park National stock opened at $174.77 on Wednesday. Park National has a 1 year low of $137.97 and a 1 year high of $179.48. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. The firm has a 50 day moving average price of $160.40 and a 200 day moving average price of $161.74. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 18.77 and a beta of 0.74.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PRK. Bank of Montreal Can increased its holdings in Park National by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 3,072 shares of the company’s stock worth $514,000 after purchasing an additional 64 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of Park National by 3.2% in the fourth quarter. Ballentine Partners LLC now owns 2,090 shares of the company’s stock worth $318,000 after buying an additional 64 shares during the last quarter. Arizona State Retirement System raised its holdings in Park National by 1.6% in the third quarter. Arizona State Retirement System now owns 4,312 shares of the company’s stock valued at $701,000 after acquiring an additional 68 shares in the last quarter. GAMMA Investing LLC boosted its stake in Park National by 13.4% during the 4th quarter. GAMMA Investing LLC now owns 628 shares of the company’s stock valued at $96,000 after acquiring an additional 74 shares during the last quarter. Finally, Spreng Capital Management Inc. grew its holdings in Park National by 5.5% during the 3rd quarter. Spreng Capital Management Inc. now owns 1,445 shares of the company’s stock worth $235,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.

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.