Park National (NYSE:PRK) Downgraded to Sell Rating by StockNews.com

Park National (NYSE:PRK - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Wednesday.

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods lifted their price target on shares of Park National from $167.00 to $170.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 30th. Piper Sandler initiated coverage on shares of Park National in a report on Thursday, February 20th. They set a "neutral" rating and a $185.50 target price on the stock.

Park National Trading Down 0.5%

Park National stock opened at $169.81 on Wednesday. The stock has a market cap of $2.75 billion, a P/E ratio of 18.24 and a beta of 0.79. Park National has a fifty-two week low of $131.93 and a fifty-two week high of $207.99. The firm's fifty day moving average price is $153.42 and its 200-day moving average price is $167.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in shares of Park National by 162.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 181 shares of the company's stock valued at $31,000 after acquiring an additional 112 shares in the last quarter. GAMMA Investing LLC boosted its stake in Park National by 199.3% during the 1st quarter. GAMMA Investing LLC now owns 449 shares of the company's stock valued at $68,000 after purchasing an additional 299 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Park National by 808.0% in the 4th quarter. Sterling Capital Management LLC now owns 454 shares of the company's stock worth $78,000 after purchasing an additional 404 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of Park National in the first quarter worth $93,000. Finally, Signaturefd LLC raised its stake in shares of Park National by 9.7% in the fourth quarter. Signaturefd LLC now owns 692 shares of the company's stock worth $119,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 62.65% of the company's stock.

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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