Park National (NYSEAMERICAN:PRK – Get Rating) had its target price raised by Piper Sandler from $127.00 to $135.00 in a report published on Thursday morning, The Fly reports.
Park National Stock Up 2.3 %
Shares of NYSEAMERICAN PRK opened at $136.60 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. Park National has a 1-year low of $111.22 and a 1-year high of $145.33. The firm has a market cap of $2.22 billion, a P/E ratio of 14.56 and a beta of 0.78.
Park National (NYSEAMERICAN:PRK – Get Rating) last released its quarterly earnings data on Monday, July 25th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.06. Park National had a return on equity of 14.11% and a net margin of 32.35%. As a group, sell-side analysts expect that Park National will post 7.86 EPS for the current fiscal year.
Park National Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 19th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, August 18th. Park National’s payout ratio is 44.35%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in PRK. Quantbot Technologies LP purchased a new position in shares of Park National in the first quarter valued at $51,000. KBC Group NV purchased a new position in shares of Park National in the second quarter valued at $139,000. Nisa Investment Advisors LLC increased its position in Park National by 27.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,275 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 275 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in Park National during the 4th quarter worth about $205,000. Finally, Mutual Advisors LLC purchased a new stake in Park National during the 4th quarter worth about $211,000. Hedge funds and other institutional investors own 61.05% of the company’s stock.
Park National Company Profile
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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 for individual customers.
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