Park National (NYSE:PRK) Sees Strong Trading Volume - Time to Buy?

Park National Co. (NYSE:PRK - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 231,161 shares were traded during mid-day trading, an increase of 348% from the previous session's volume of 51,609 shares.The stock last traded at $170.32 and had previously closed at $175.38.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Park National from a "hold" rating to a "sell" rating in a report on Friday, August 23rd.

Park National Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $2.73 billion, a PE ratio of 21.42 and a beta of 0.70. The company's 50 day simple moving average is $168.61 and its 200 day simple moving average is $152.71.

Park National (NYSE:PRK - Get Free Report) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.99 by $0.39. The firm had revenue of $126.63 million during the quarter, compared to analyst estimates of $120.52 million. Park National had a net margin of 22.67% and a return on equity of 12.49%. Analysts expect that Park National Co. will post 9.12 earnings per share for the current year.

Insider Buying and Selling at Park National

In other Park National news, Director Mark R. Ramser sold 546 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $180.66, for a total value of $98,640.36. Following the completion of the sale, the director now owns 379 shares in the company, valued at approximately $68,470.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Mark R. Ramser sold 546 shares of the firm's stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $180.66, for a total transaction of $98,640.36. Following the completion of the sale, the director now owns 379 shares in the company, valued at $68,470.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark R. Ramser sold 454 shares of the firm's stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $187.06, for a total transaction of $84,925.24. Following the sale, the director now owns 925 shares of the company's stock, valued at approximately $173,030.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On Park National

Several large investors have recently modified their holdings of PRK. nVerses Capital LLC purchased a new stake in shares of Park National during the 2nd quarter worth approximately $85,000. MFA Wealth Advisors LLC bought a new position in Park National in the 2nd quarter worth approximately $121,000. Contravisory Investment Management Inc. bought a new position in Park National in the 3rd quarter worth approximately $227,000. Algert Global LLC bought a new position in Park National in the 2nd quarter worth approximately $231,000. Finally, SG Americas Securities LLC boosted its holdings in Park National by 56.1% in the 1st quarter. SG Americas Securities LLC now owns 1,789 shares of the company's stock worth $243,000 after buying an additional 643 shares during the period. 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.