Park National (NYSE:PRK) Earns Neutral Rating from Analysts at Piper Sandler

Piper Sandler started coverage on shares of Park National (NYSE:PRK) in a report published on Thursday. The firm issued a neutral rating and a $185.50 price objective on the stock.

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $178.00 price objective (down from $187.00) on shares of Park National in a research note on Wednesday, January 29th.

Park National Trading Down 0.4 %

Shares of Park National stock opened at $166.83 on Thursday. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 18.33 and a beta of 0.73. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. Park National has a 12-month low of $123.08 and a 12-month high of $207.99. The firm’s 50-day moving average price is $171.56 and its two-hundred day moving average price is $174.04.

Park National Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.57%. This is an increase from Park National’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, February 14th. Park National’s dividend payout ratio is presently 45.97%.

Institutional Investors Weigh In On Park National

Large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in shares of Park National by 162.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 181 shares of the company’s stock valued at $31,000 after purchasing an additional 112 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Park National by 808.0% in the 4th quarter. Sterling Capital Management LLC now owns 454 shares of the company’s stock valued at $78,000 after buying an additional 404 shares during the last quarter. Signaturefd LLC raised its holdings in Park National by 9.7% in the 4th quarter. Signaturefd LLC now owns 692 shares of the company’s stock valued at $119,000 after buying an additional 61 shares during the last quarter. KBC Group NV raised its holdings in Park National by 55.8% in the 4th quarter. KBC Group NV now owns 787 shares of the company’s stock valued at $135,000 after buying an additional 282 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Park National in the 4th quarter valued at approximately $201,000. 62.65% of the stock is currently owned by institutional investors and hedge funds.

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.