Keefe, Bruyette & Woods Reiterates Market Perform Rating for Park National (NYSE:PRK)

Park National (NYSE:PRK)‘s stock had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods in a report released on Wednesday, Benzinga reports. They currently have a $130.00 price target on the stock, up from their previous price target of $125.00. Keefe, Bruyette & Woods’ price objective would suggest a potential downside of 3.55% from the company’s previous close.

A number of other research analysts also recently issued reports on PRK. StockNews.com upgraded shares of Park National from a “sell” rating to a “hold” rating in a research report on Monday. Piper Sandler assumed coverage on shares of Park National in a report on Friday, February 23rd. They issued a “neutral” rating and a $130.00 target price on the stock.

Park National Trading Down 2.0 %

Shares of NYSE PRK opened at $134.78 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average price is $130.01 and its two-hundred day moving average price is $122.86. Park National has a 52-week low of $90.28 and a 52-week high of $137.52. The stock has a market capitalization of $2.17 billion, a P/E ratio of 16.41 and a beta of 0.70.

Park National (NYSE:PRK) last posted its quarterly earnings results on Monday, January 22nd. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.09. The business had revenue of $140.73 million for the quarter, compared to analyst estimates of $119.14 million. Park National had a return on equity of 12.28% and a net margin of 22.03%. On average, analysts anticipate that Park National will post 7.92 earnings per share for the current fiscal year.

Institutional Trading of Park National

Several hedge funds have recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Park National in the fourth quarter valued at approximately $31,000. Numerai GP LLC bought a new stake in Park National during the 3rd quarter valued at $200,000. CWA Asset Management Group LLC acquired a new position in Park National during the 4th quarter worth $208,000. Nisa Investment Advisors LLC grew its stake in shares of Park National by 60.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,609 shares of the company’s stock worth $214,000 after purchasing an additional 609 shares in the last quarter. Finally, FORVIS Wealth Advisors LLC acquired a new position in shares of Park National during the fourth quarter valued at $238,000. 62.65% of the stock is currently owned by 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.