Park National (NYSE:PRK) Reaches New 52-Week High at $144.40

Park National Co. (NYSE:PRK)’s share price reached a new 52-week high on Monday . The stock traded as high as $144.40 and last traded at $142.21, with a volume of 16012 shares traded. The stock had previously closed at $142.34.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $130.00 price target (up from $125.00) on shares of Park National in a research note on Wednesday, April 24th. StockNews.com cut shares of Park National from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th.

Park National Price Performance

The business’s 50-day simple moving average is $136.85 and its 200-day simple moving average is $132.54. The stock has a market cap of $2.28 billion, a PE ratio of 18.02 and a beta of 0.71. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.16.

Park National (NYSE:PRK) last released its quarterly earnings data on Friday, April 19th. The company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.30. Park National had a net margin of 22.03% and a return on equity of 12.13%. The firm had revenue of $121.82 million for the quarter, compared to analysts’ expectations of $118.29 million. On average, research analysts expect that Park National Co. will post 8.12 EPS for the current fiscal year.

Park National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, May 16th. Park National’s dividend payout ratio is currently 53.67%.

Hedge Funds Weigh In On Park National

Several hedge funds and other institutional investors have recently modified their holdings of PRK. Vanguard Group Inc. boosted its stake in Park National by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock worth $226,009,000 after acquiring an additional 12,925 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Park National by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 457,745 shares of the company’s stock worth $60,818,000 after acquiring an additional 10,266 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Park National by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 163,532 shares of the company’s stock worth $21,727,000 after acquiring an additional 6,724 shares in the last quarter. Victory Capital Management Inc. boosted its stake in 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 acquiring an additional 17,271 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in 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 acquiring an additional 2,579 shares in the last quarter. Hedge funds and other 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.