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Park National (NYSEAMERICAN:PRK) Stock Passes Below 50-Day Moving Average of $129.59

Defense World · Sep 17, 2022 03:51

Park National Co. (NYSEAMERICAN:PRK – Get Rating) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $129.59 and traded as low as $127.01. Park National shares last traded at $128.97, with a volume of 153,350 shares trading hands.

Analyst Ratings Changes

Separately, Piper Sandler boosted their target price on shares of Park National from $127.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, August 25th.

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Park National Trading Down 0.2 %

The firm has a 50-day moving average of $129.59. The firm has a market capitalization of $2.10 billion, a PE ratio of 14.54 and a beta of 0.75. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

Park National (NYSEAMERICAN:PRK – Get Rating) last posted its quarterly earnings data on Monday, July 25th. The financial services provider reported $2.00 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.05). Park National had a return on equity of 12.97% and a net margin of 30.91%. The firm had revenue of $115.13 million for the quarter, compared to the consensus estimate of $110.31 million. On average, analysts anticipate that Park National Co. will post 9 earnings per share for the current year.

Park National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Thursday, August 18th. Park National's dividend payout ratio (DPR) is presently 46.90%.

Hedge Funds Weigh In On Park National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in Park National during the first quarter worth about $51,000. KBC Group NV purchased a new position in shares of Park National in the second quarter valued at approximately $139,000. Nisa Investment Advisors LLC boosted its stake in shares of Park National by 27.5% in the first quarter. Nisa Investment Advisors LLC now owns 1,275 shares of the financial services provider's stock valued at $168,000 after purchasing an additional 275 shares during the period. MFA Wealth Advisors LLC purchased a new position in Park National in the fourth quarter worth approximately $205,000. Finally, Mutual Advisors LLC purchased a new position in Park National in the fourth quarter worth approximately $211,000. 51.75% of the stock is owned by hedge funds and other institutional investors.

About Park National

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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 for individual customers.