Park National (NYSE:PRK) Trading Up 0.9% – What’s Next?

Park National Co. (NYSE:PRK)’s stock price shot up 0.9% during trading on Monday . The company traded as high as $162.12 and last traded at $161.34. 51,222 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 55,758 shares. The stock had previously closed at $159.98.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PRK. Zacks Research lowered Park National from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Keefe, Bruyette & Woods lifted their target price on Park National from $175.00 to $180.00 and gave the company a “market perform” rating in a research note on Wednesday, October 29th. Finally, Piper Sandler dropped their target price on Park National from $185.00 to $176.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $178.00.

Park National Stock Up 0.9%

The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.59 billion, a PE ratio of 17.33 and a beta of 0.73. The firm’s fifty day moving average is $158.34 and its 200-day moving average is $161.91.

Institutional Trading of Park National

Institutional investors have recently modified their holdings of the business. State Street Corp grew its holdings in Park National by 8.3% during the second quarter. State Street Corp now owns 673,645 shares of the company’s stock worth $112,674,000 after acquiring an additional 51,381 shares during the period. Geode Capital Management LLC lifted its holdings in Park National by 1.9% in the second quarter. Geode Capital Management LLC now owns 347,548 shares of the company’s stock valued at $58,139,000 after acquiring an additional 6,372 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Park National by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 55,782 shares of the company’s stock worth $9,066,000 after purchasing an additional 6,074 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Park National by 9.0% during the 3rd quarter. Bank of America Corp DE now owns 54,377 shares of the company’s stock worth $8,838,000 after purchasing an additional 4,467 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of Park National by 3,571.9% during the 1st quarter. Jane Street Group LLC now owns 50,342 shares of the company’s stock worth $7,622,000 after purchasing an additional 48,971 shares during the period. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

About Park National

Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company’s main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.

Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.