Park National (NYSE:PRK) Coverage Initiated by Analysts at Piper Sandler

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

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

Park National Stock Performance

NYSE PRK opened at $166.83 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average price is $171.56 and its two-hundred day moving average price is $174.04. Park National has a 1 year low of $123.08 and a 1 year high of $207.99. The firm has a market capitalization of $2.70 billion, a P/E ratio of 18.33 and a beta of 0.73.

Park National Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.07 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from Park National’s previous quarterly dividend of $1.06. This represents a $4.28 annualized dividend and a dividend yield of 2.57%. Park National’s dividend payout ratio is presently 45.97%.

Hedge Funds Weigh In On Park National

Large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its stake in shares of Park National by 162.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 181 shares of the company’s stock valued at $31,000 after acquiring an additional 112 shares in the last quarter. Sterling Capital Management LLC grew its stake in shares of Park National by 808.0% in the fourth quarter. Sterling Capital Management LLC now owns 454 shares of the company’s stock valued at $78,000 after acquiring an additional 404 shares in the last quarter. Signaturefd LLC grew its stake in shares of Park National by 9.7% in the fourth quarter. Signaturefd LLC now owns 692 shares of the company’s stock valued at $119,000 after acquiring an additional 61 shares in the last quarter. KBC Group NV grew its stake in shares of Park National by 55.8% in the fourth quarter. KBC Group NV now owns 787 shares of the company’s stock valued at $135,000 after acquiring an additional 282 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Park National in the fourth quarter valued at about $201,000. 62.65% of the stock is owned by institutional investors.

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.