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Park National (NYSEAMERICAN:PRK) Stock Crosses Below Fifty Day Moving Average of $129.59

Financial News Live ·  Sep 18, 2022 08:42

Park National Co. (NYSEAMERICAN:PRK – Get Rating)'s share price crossed below its fifty day moving average during trading on Friday . The stock has a fifty 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 changing hands.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their price objective on Park National from $127.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, August 25th.

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Park National Trading Down 0.2 %

The stock has a market capitalization of $2.10 billion, a P/E ratio of 15.12 and a beta of 0.75. The firm has a fifty day moving average of $129.59. 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 announced its quarterly earnings results 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). The company had revenue of $115.13 million during the quarter, compared to analyst estimates of $110.31 million. Park National had a net margin of 30.91% and a return on equity of 12.97%. Sell-side analysts anticipate that Park National Co. will post 9 EPS for the current fiscal year.

Park National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Thursday, August 18th. Park National's dividend payout ratio is 46.90%.

Hedge Funds Weigh In On Park National

A number of institutional investors and hedge funds have recently bought and sold shares of PRK. Quantbot Technologies LP acquired a new position in Park National in the first quarter worth $51,000. KBC Group NV acquired a new position in Park National in the second quarter worth $139,000. Nisa Investment Advisors LLC boosted its stake in 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 worth $168,000 after purchasing an additional 275 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in Park National in the fourth quarter worth $205,000. Finally, Mutual Advisors LLC acquired a new position in Park National in the fourth quarter worth $211,000. Institutional investors and hedge funds own 51.75% of the company's stock.

Park National Company Profile

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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.

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