Park National Co. (PRK) Downgraded to Sell at Zacks Investment Research
Park National Co. (NYSE:PRK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Park National Corporation is the bank holding company for The Park National Bank, The Richland Trust Company, Century National Bank, The First-Knox National Bank of Mount Vernon, United Bank, N.A., Second National Bank, The Security National Bank and Trust Co. and The Citizens National Bank of Urbana. “
Shares of Park National (NYSE:PRK) traded up 1.15% on Wednesday, reaching $95.73. 23,086 shares of the company’s stock traded hands. The stock has a 50-day moving average of $93.76 and a 200 day moving average of $91.65. Park National has a 12-month low of $79.01 and a 12-month high of $104.58. The firm has a market cap of $1.47 billion and a P/E ratio of 18.52.
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Park National (NYSE:PRK) last released its quarterly earnings data on Monday, July 25th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by $0.08. On average, equities research analysts expect that Park National will post $5.31 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Wednesday, August 17th.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY raised its position in Park National by 0.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 9,773 shares of the company’s stock valued at $897,000 after buying an additional 76 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Park National by 13.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 55,235 shares of the company’s stock valued at $5,070,000 after buying an additional 6,702 shares during the last quarter. Finally, Stifel Financial Corp raised its position in Park National by 23.8% in the second quarter. Stifel Financial Corp now owns 76,090 shares of the company’s stock valued at $6,983,000 after buying an additional 14,641 shares during the last quarter.
Park National Company Profile
Park National Corporation (Park) is a financial holding company. The Company’s banking operations are conducted through The Park National Bank. The Company’s segments include Park National Bank, Guardian Financial Services Company (Guardian Finance) and SE Property Holdings, LLC (SEPH). The Park National Bank is engaged in the commercial banking and trust business, generally in small and medium population Ohio communities.
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