Park National (NYSE:PRK) Stock Rating Upgraded by StockNews.com

Park National (NYSE:PRK) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Separately, Piper Sandler started coverage on shares of Park National in a research report on Friday, February 23rd. They set a “neutral” rating and a $130.00 target price on the stock.

Park National Price Performance

PRK opened at $135.31 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.17. Park National has a 52-week low of $90.28 and a 52-week high of $137.26. The company has a 50 day moving average of $129.75 and a two-hundred day moving average of $122.68. The company has a market cap of $2.18 billion, a P/E ratio of 17.13 and a beta of 0.70.

Park National (NYSE:PRK) last released its quarterly earnings data on Monday, January 22nd. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.09. Park National had a net margin of 22.03% and a return on equity of 12.28%. The company had revenue of $140.73 million during the quarter, compared to the consensus estimate of $119.14 million. On average, analysts expect that Park National will post 7.6 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Park National in the fourth quarter valued at $31,000. Numerai GP LLC acquired a new stake in Park National in the third quarter valued at $200,000. CWA Asset Management Group LLC acquired a new stake in Park National in the fourth quarter valued at $208,000. Nisa Investment Advisors LLC raised its holdings in Park National by 60.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,609 shares of the company’s stock valued at $214,000 after acquiring an additional 609 shares in the last quarter. Finally, FORVIS Wealth Advisors LLC acquired a new stake in Park National in the fourth quarter valued at $238,000. 62.65% of the stock is 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.