Park National (NYSE:PRK) Cut to Sell at StockNews.com

Park National (NYSE:PRK) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

A number of other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $130.00 price target (up previously from $125.00) on shares of Park National in a report on Wednesday, April 24th. Piper Sandler started coverage on Park National in a research report on Friday, February 23rd. They issued a “neutral” rating and a $130.00 target price on the stock.

Park National Price Performance

Shares of PRK stock traded up $2.32 during trading hours on Thursday, reaching $140.21. The company had a trading volume of 60,305 shares, compared to its average volume of 44,369. Park National has a 12-month low of $90.28 and a 12-month high of $140.45. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 17.75 and a beta of 0.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a fifty day moving average of $131.52 and a 200-day moving average of $125.63.

Park National (NYSE:PRK) last posted its quarterly earnings results on Friday, April 19th. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.85 by $0.30. Park National had a return on equity of 12.13% and a net margin of 22.03%. The business had revenue of $121.82 million for the quarter, compared to analyst estimates of $118.29 million. On average, equities analysts anticipate that Park National will post 7.92 earnings per share for the current year.

Institutional Investors Weigh In On Park National

A number of institutional investors have recently modified their holdings of PRK. Rhumbline Advisers grew its position in Park National by 9.6% in the 3rd quarter. Rhumbline Advisers now owns 48,244 shares of the company’s stock valued at $4,560,000 after acquiring an additional 4,225 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Park National by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 156,808 shares of the company’s stock worth $14,821,000 after buying an additional 7,655 shares during the period. Illinois Municipal Retirement Fund acquired a new stake in Park National during the 3rd quarter worth approximately $803,000. International Assets Investment Management LLC boosted its position in Park National by 6,882.5% in the 4th quarter. International Assets Investment Management LLC now owns 9,566 shares of the company’s stock valued at $1,271,000 after buying an additional 9,429 shares during the period. Finally, Mariner LLC grew its stake in shares of Park National by 11.0% in the third quarter. Mariner LLC now owns 10,853 shares of the company’s stock worth $1,026,000 after acquiring an additional 1,077 shares in the last quarter. 62.65% of the stock is owned by institutional investors and hedge funds.

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.