Park National (NYSE:PRK – Get Free Report)‘s stock had its “market perform” rating reiterated by stock analysts at Keefe, Bruyette & Woods in a note issued to investors on Wednesday, Benzinga reports. They currently have a $130.00 target price on the stock, up from their prior target price of $125.00. Keefe, Bruyette & Woods’ price target would suggest a potential downside of 3.55% from the stock’s current price.
A number of other equities research analysts also recently weighed in on PRK. Piper Sandler initiated coverage on shares of Park National in a research note on Friday, February 23rd. They set a “neutral” rating and a $130.00 price target for the company. StockNews.com raised shares of Park National from a “sell” rating to a “hold” rating in a research note on Monday.
Park National Price Performance
Park National (NYSE:PRK – Get Free Report) last announced its earnings results on Friday, April 19th. The company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.30. Park National had a net margin of 22.03% and a return on equity of 12.28%. The company had revenue of $121.82 million for the quarter, compared to analyst estimates of $118.29 million. Sell-side analysts forecast that Park National will post 7.6 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Park National
Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its holdings in Park National by 9.6% in the third quarter. Rhumbline Advisers now owns 48,244 shares of the company’s stock worth $4,560,000 after purchasing an additional 4,225 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Park National by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 156,808 shares of the company’s stock worth $14,821,000 after purchasing an additional 7,655 shares during the period. Illinois Municipal Retirement Fund acquired a new stake in Park National in the third quarter worth $803,000. Mariner LLC raised its holdings in shares of Park National by 11.0% during the third quarter. Mariner LLC now owns 10,853 shares of the company’s stock worth $1,026,000 after acquiring an additional 1,077 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Park National by 7.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,414 shares of the company’s stock worth $1,384,000 after acquiring an additional 753 shares during the period. 62.65% of the stock is currently owned by institutional investors and hedge funds.
About Park National
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.
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