Park National (NYSE:PRK) Upgraded to “Hold” at 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 Wednesday.

Separately, Keefe, Bruyette & Woods reiterated 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.

Park National Price Performance

Shares of PRK stock traded up $0.09 during trading hours on Wednesday, reaching $183.96. The company had a trading volume of 135,275 shares, compared to its average volume of 49,964. Park National has a 12-month low of $90.28 and a 12-month high of $188.71. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 23.29 and a beta of 0.71. 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 $144.03 and a 200-day moving average of $135.58.

Hedge Funds Weigh In On Park National

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its holdings in Park National by 44.8% in the 4th quarter. Victory Capital Management Inc. now owns 55,788 shares of the company’s stock valued at $7,412,000 after buying an additional 17,271 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Park National by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock worth $226,009,000 after acquiring an additional 12,925 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Park National by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 457,745 shares of the company’s stock valued at $60,818,000 after purchasing an additional 10,266 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Park National by 6,882.5% during the fourth quarter. International Assets Investment Management LLC now owns 9,566 shares of the company’s stock worth $1,271,000 after buying an additional 9,429 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Park National in the fourth quarter valued at $957,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

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.