Park National (NYSE:PRK) Reaches New 52-Week High – Should You Buy?

Park National Co. (NYSE:PRK)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $179.70 and last traded at $177.9510, with a volume of 44927 shares traded. The stock had previously closed at $176.00.

Wall Street Analyst Weigh In

PRK has been the subject of a number of recent analyst reports. Zacks Research cut Park National from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Piper Sandler boosted their price objective on Park National from $183.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $184.00.

Park National Stock Performance

The company has a market capitalization of $3.19 billion, a P/E ratio of 18.96 and a beta of 0.70. The firm has a 50 day moving average price of $170.38 and a two-hundred day moving average price of $164.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94.

Park National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $1.10 per share. The ex-dividend date is Friday, May 15th. This represents a $4.40 dividend on an annualized basis and a yield of 2.5%. Park National’s dividend payout ratio is 40.33%.

Institutional Investors Weigh In On Park National

Large investors have recently bought and sold shares of the business. Park National Corp OH boosted its position in Park National by 9.8% in the 1st quarter. Park National Corp OH now owns 1,155,964 shares of the company’s stock valued at $188,942,000 after buying an additional 103,142 shares during the last quarter. State Street Corp boosted its position in Park National by 8.3% in the 2nd quarter. State Street Corp now owns 673,645 shares of the company’s stock valued at $112,674,000 after buying an additional 51,381 shares during the last quarter. Jane Street Group LLC boosted its position in Park National by 3,571.9% in the 1st quarter. Jane Street Group LLC now owns 50,342 shares of the company’s stock valued at $7,622,000 after buying an additional 48,971 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Park National in the 4th quarter valued at $3,204,000. Finally, Tudor Investment Corp ET AL raised its stake in Park National by 52.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 49,267 shares of the company’s stock worth $7,497,000 after buying an additional 16,982 shares during the period. 62.65% of the stock is currently owned by 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.