Park National (NYSE:PRK) Sets New 12-Month High at $137.52

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

Wall Street Analysts Forecast Growth

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

Park National Price Performance

The business’s fifty day simple moving average is $129.75 and its 200-day simple moving average is $122.68. 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 firm has a market cap of $2.21 billion, a P/E ratio of 17.06 and a beta of 0.70.

Park National (NYSE:PRK) last released its quarterly 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. The firm 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%. As a group, analysts forecast that Park National Co. will post 7.6 EPS for the current fiscal year.

Park National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a $1.06 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.24 annualized dividend and a dividend yield of 3.09%. Park National’s payout ratio is currently 53.67%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in Park National by 9.6% in the third quarter. Rhumbline Advisers now owns 48,244 shares of the company’s stock valued at $4,560,000 after acquiring an additional 4,225 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Park National by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 156,808 shares of the company’s stock worth $14,821,000 after purchasing an additional 7,655 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of Park National in the 3rd quarter worth about $803,000. Mariner LLC boosted its holdings in shares of Park National by 11.0% in the 3rd quarter. Mariner LLC now owns 10,853 shares of the company’s stock worth $1,026,000 after purchasing an additional 1,077 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Park National by 6,882.5% in the 4th quarter. International Assets Investment Management LLC now owns 9,566 shares of the company’s stock worth $1,271,000 after purchasing an additional 9,429 shares in the last quarter. 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.