StockNews.com upgraded shares of Park National (NYSE:PRK – Free Report) from a sell rating to a hold rating in a research report sent to investors on Thursday.
Separately, Keefe, Bruyette & Woods reiterated a market perform rating and set a $130.00 price objective (up from $125.00) on shares of Park National in a research note on Wednesday, April 24th.
Get Our Latest Stock Report on PRK
Park National Trading Up 0.8 %
Park National (NYSE:PRK – Get Free Report) last announced its quarterly earnings data on Monday, July 22nd. The company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.99 by $0.39. The firm had revenue of $126.63 million during the quarter, compared to analyst estimates of $120.52 million. Park National had a net margin of 22.67% and a return on equity of 12.49%.
Park National Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be given a $1.06 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.24 dividend on an annualized basis and a yield of 2.58%. Park National’s dividend payout ratio is currently 53.67%.
Insider Buying and Selling
In other Park National news, Director Mark R. Ramser sold 454 shares of Park National stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $187.06, for a total transaction of $84,925.24. Following the completion of the sale, the director now directly owns 925 shares in the company, valued at approximately $173,030.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Mark R. Ramser sold 546 shares of Park National stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $180.66, for a total transaction of $98,640.36. Following the completion of the transaction, the director now directly owns 379 shares in the company, valued at $68,470.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark R. Ramser sold 454 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $187.06, for a total transaction of $84,925.24. Following the completion of the transaction, the director now owns 925 shares of the company’s stock, valued at $173,030.50. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Park National
Several hedge funds have recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Park National in the 4th quarter worth about $31,000. nVerses Capital LLC acquired a new position in shares of Park National during the 2nd quarter worth approximately $85,000. MFA Wealth Advisors LLC purchased a new position in shares of Park National during the 2nd quarter valued at approximately $121,000. CWA Asset Management Group LLC purchased a new position in shares of Park National during the 4th quarter valued at approximately $208,000. Finally, Nisa Investment Advisors LLC grew its stake in Park National by 60.9% in the 4th 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 during the period. 62.65% of the stock is owned by hedge funds and other 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.
See Also
- Five stocks we like better than Park National
- 5 discounted opportunities for dividend growth investors
- This Small Cap Wealth Management Stock Could Provide Big Returns
- What is a Stock Market Index and How Do You Use Them?
- Bumble’s Valuation Hits an All-Time Low, Can Its Fortunes Change?
- 3 Small Caps With Big Return Potential
- MarketBeat Week in Review – 8/12 – 8/16
Receive News & Ratings for Park National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park National and related companies with MarketBeat.com's FREE daily email newsletter.