Park National (NYSE:PRK) Sees Unusually-High Trading Volume

Park National Co. (NYSE:PRK) shares saw unusually-strong trading volume on Tuesday . Approximately 19,337 shares traded hands during trading, a decline of 55% from the previous session’s volume of 42,950 shares.The stock last traded at $136.28 and had previously closed at $135.86.

Analysts Set New Price Targets

PRK has been the topic of several research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $130.00 target price (up from $125.00) on shares of Park National in a research report on Wednesday, April 24th. Piper Sandler started coverage on Park National in a report on Friday, February 23rd. They issued a “neutral” rating and a $130.00 price objective on the stock. Finally, StockNews.com downgraded Park National from a “hold” rating to a “sell” rating in a report on Wednesday, June 12th.

Park National Trading Up 1.1 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $2.22 billion, a PE ratio of 17.17 and a beta of 0.71. The company’s fifty day moving average is $134.87 and its 200-day moving average is $131.60.

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

Park National Announces Dividend

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

Institutional Inflows and Outflows

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

About Park National

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.