Keefe, Bruyette & Woods Reiterates “Market Perform” Rating for Park National (NYSE:PRK)

Park National (NYSE:PRK)‘s stock had its “market perform” rating reiterated by Keefe, Bruyette & Woods in a research report issued on Wednesday,Benzinga reports. They currently have a $178.00 target price on the stock, down from their previous target price of $187.00. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 3.37% from the stock’s previous close.

Park National Stock Up 0.5 %

NYSE:PRK traded up $0.80 during mid-day trading on Wednesday, reaching $172.19. The stock had a trading volume of 10,377 shares, compared to its average volume of 62,207. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $2.78 billion, a P/E ratio of 20.37 and a beta of 0.74. The business’s 50 day moving average is $179.09 and its 200 day moving average is $174.59. Park National has a fifty-two week low of $123.08 and a fifty-two week high of $207.99.

Hedge Funds Weigh In On Park National

Hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake in shares of Park National by 5.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,414 shares of the company’s stock worth $1,198,000 after acquiring an additional 402 shares in the last quarter. Algert Global LLC acquired a new stake in Park National in the 2nd quarter worth approximately $231,000. Creative Planning boosted its position in Park National by 13.2% during the second quarter. Creative Planning now owns 4,856 shares of the company’s stock worth $691,000 after purchasing an additional 565 shares during the period. Creekside Partners acquired a new position in Park National during the second quarter valued at approximately $579,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Park National in the second quarter valued at approximately $285,000. 62.65% of the stock is owned by institutional investors and hedge funds.

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.