Keefe, Bruyette & Woods Raises Park National (NYSE:PRK) Price Target to $205.00

Key Points

• Keefe, Bruyette & Woods raised Park National’s price target to $205 from $180 while maintaining a “market perform” rating, implying 3.56% downside from the prior close.
• Analyst sentiment remains cautious: Park National has an average “Hold” rating and a consensus price target of $211, with Piper Sandler also rating the stock neutral.
• PRK opened at $212.56 and trades near its 12-month high of $214.10; institutional investors and hedge funds own approximately 62.65% of the company.

Park National (NYSE:PRK - Get Free Report) had its target price upped by Keefe, Bruyette & Woods from $180.00 to $205.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' target price indicates a potential downside of 3.56% from the stock's previous close.

Several other equities research analysts also recently issued reports on the stock. Piper Sandler raised their price objective on shares of Park National from $189.00 to $217.00 and gave the stock a "neutral" rating in a research note on Wednesday. Zacks Research downgraded shares of Park National from a "strong-buy" rating to a "hold" rating in a report on Friday, April 3rd. Finally, Raymond James Financial initiated coverage on shares of Park National in a research report on Tuesday, July 7th. They issued a "market perform" rating on the stock. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $211.00.

Park National Stock Performance

PRK opened at $212.56 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The stock's 50 day moving average price is $180.74 and its two-hundred day moving average price is $171.64. The firm has a market capitalization of $3.85 billion, a P/E ratio of 22.83 and a beta of 0.69. Park National has a 12-month low of $149.06 and a 12-month high of $214.10.

Institutional Investors Weigh In On Park National

A number of institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL grew its position in Park National by 51.2% in the third quarter. Tudor Investment Corp ET AL now owns 32,285 shares of the company's stock valued at $5,247,000 after acquiring an additional 10,935 shares during the period. SG Americas Securities LLC raised its stake in Park National by 249.8% during the fourth quarter. SG Americas Securities LLC now owns 6,299 shares of the company's stock worth $959,000 after acquiring an additional 4,498 shares in the last quarter. UBS Group AG lifted its holdings in shares of Park National by 15.7% during the fourth quarter. UBS Group AG now owns 64,583 shares of the company's stock valued at $9,828,000 after acquiring an additional 8,777 shares during the period. Principal Financial Group Inc. increased its position in shares of Park National by 14.5% during the 1st quarter. Principal Financial Group Inc. now owns 78,087 shares of the company's stock worth $12,763,000 after purchasing an additional 9,865 shares in the last quarter. Finally, Park National Corp OH lifted its holdings in Park National by 9.8% during the 1st quarter. Park National Corp OH now owns 1,155,964 shares of the company's stock valued at $188,942,000 after purchasing an additional 103,142 shares during the last quarter. 62.65% of the stock is owned by institutional investors and hedge funds.

About Park National

Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company's main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.

Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.

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