Keefe, Bruyette & Woods Reiterates “Market Perform” Rating for Park National (NYSE:PRK)

Park National (NYSE:PRK)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a report issued on Wednesday,Benzinga reports. They presently have a $178.00 price objective on the stock, down from their previous price objective of $187.00. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 4.26% from the company’s previous close.

Park National Price Performance

Park National stock opened at $170.72 on Wednesday. The stock has a fifty day moving average of $178.72 and a 200-day moving average of $174.56. The stock has a market capitalization of $2.76 billion, a P/E ratio of 20.20 and a beta of 0.74. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. Park National has a 52 week low of $123.08 and a 52 week high of $207.99.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PRK. Berkshire Money Management Inc. acquired a new position in Park National in the 4th quarter worth about $553,000. Colton Groome Financial Advisors LLC bought a new stake in shares of Park National during the fourth quarter worth about $236,000. Asset Dedication LLC increased its stake in shares of Park National by 367.4% in the fourth quarter. Asset Dedication LLC now owns 1,636 shares of the company’s stock valued at $280,000 after buying an additional 1,286 shares during the period. Summit Financial Strategies Inc. raised its holdings in Park National by 9.2% in the 4th quarter. Summit Financial Strategies Inc. now owns 10,042 shares of the company’s stock valued at $1,721,000 after buying an additional 848 shares during the last quarter. Finally, KBC Group NV boosted its position in Park National by 55.8% during the 4th quarter. KBC Group NV now owns 787 shares of the company’s stock worth $135,000 after buying an additional 282 shares during the period. 62.65% of the stock is currently owned by institutional investors.

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.