Park National Co. (PRK) Raised to Hold at Zacks Investment Research
Park National Co. (NYSEMKT:PRK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “
Separately, BidaskClub upgraded Park National from a “hold” rating to a “buy” rating in a research report on Friday, September 29th.
Shares of Park National (NYSEMKT:PRK) traded down 0.44% on Wednesday, hitting $109.80. 729 shares of the company traded hands. Park National has a 1-year low of $92.42 and a 1-year high of $122.88. The firm’s 50 day moving average price is $101.59 and its 200-day moving average price is $102.74. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 19.50 and a beta of 0.85.
Park National (NYSEMKT:PRK) last issued its quarterly earnings results on Monday, July 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.17). The company had revenue of $79.03 million during the quarter, compared to the consensus estimate of $81.39 million. Park National had a return on equity of 10.20% and a net margin of 24.08%. On average, equities research analysts expect that Park National will post $5.50 earnings per share for the current year.
In other Park National news, Director Robert E. Oneill bought 2,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average cost of $97.05 per share, for a total transaction of $194,100.00. Following the completion of the transaction, the director now owns 3,280 shares in the company, valued at $318,324. The acquisition was disclosed in a document filed with the SEC, which is available through this link.
Large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new stake in shares of Park National during the first quarter worth $121,000. Bank of Montreal Can lifted its position in shares of Park National by 33.1% during the second quarter. Bank of Montreal Can now owns 1,374 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 342 shares during the last quarter. Two Sigma Securities LLC lifted its position in shares of Park National by 27.2% during the first quarter. Two Sigma Securities LLC now owns 2,178 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 466 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Park National by 252.3% during the second quarter. BNP Paribas Arbitrage SA now owns 2,332 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 1,670 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Park National by 0.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,540 shares of the financial services provider’s stock worth $372,000 after purchasing an additional 13 shares during the last quarter.
Park National Company Profile
Park National Corporation (Park) is a financial holding company. Park’s principal business consists of owning and supervising its subsidiaries. Park’s banking operations are conducted through The Park National Bank (Park National Bank). Its segments include Park National Bank, Guardian Financial Services Company (Guardian Finance) and SE Property Holdings, LLC (SEPH).
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