Park National (NYSE:PRK) Sees Unusually-High Trading Volume - What's Next?

Shares of Park National Co. (NYSE:PRK - Get Free Report) saw an uptick in trading volume on Tuesday . 79,818 shares traded hands during mid-day trading, an increase of 33% from the previous session's volume of 60,178 shares.The stock last traded at $174.76 and had previously closed at $176.14.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PRK. Wall Street Zen downgraded Park National from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods lifted their target price on Park National from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Wednesday, April 30th.

Park National Stock Performance

The stock has a market cap of $2.79 billion, a P/E ratio of 18.48 and a beta of 0.82. The company has a fifty day moving average price of $166.39 and a 200 day moving average price of $162.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95.

Park National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a dividend of $1.07 per share. The ex-dividend date was Friday, May 16th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.49%. Park National's dividend payout ratio is presently 43.94%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new position in shares of Park National during the 2nd quarter valued at $27,000. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 299 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Park National by 808.0% during the 4th quarter. Sterling Capital Management LLC now owns 454 shares of the company's stock valued at $78,000 after buying an additional 404 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of Park National during the 1st quarter valued at $93,000. Finally, Signaturefd LLC raised its stake in shares of Park National by 9.7% during the 4th quarter. Signaturefd LLC now owns 692 shares of the company's stock valued at $119,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 62.65% of the company's stock.

Park National Company Profile

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.