Park National (PRK) Rating Increased to Strong-Buy at Zacks Investment Research

Park National (NYSEAMERICAN:PRK) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday. The firm currently has a $122.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 15.43% from the company’s previous close.

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. “

Several other research firms have also issued reports on PRK. Boenning Scattergood restated a “hold” rating on shares of Park National in a report on Tuesday, October 24th. BidaskClub upgraded shares of Park National from a “hold” rating to a “buy” rating in a report on Friday, September 29th.

Shares of Park National (NYSEAMERICAN:PRK) opened at $105.69 on Wednesday. The firm has a market cap of $1,610.00, a price-to-earnings ratio of 19.98 and a beta of 0.75. Park National has a one year low of $92.42 and a one year high of $122.88.

Park National (NYSEAMERICAN:PRK) last issued its quarterly earnings data on Monday, October 23rd. The financial services provider reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.02). Park National had a return on equity of 11.73% and a net margin of 26.44%. The business had revenue of $83.64 million during the quarter, compared to the consensus estimate of $81.14 million.

Large investors have recently bought and sold shares of the company. Bank of Montreal Can increased 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 acquiring an additional 342 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of Park National during the third quarter worth about $205,000. Summit Financial Strategies Inc. bought a new stake in shares of Park National during the third quarter worth about $207,000. BNP Paribas Arbitrage SA increased 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 acquiring an additional 1,670 shares in the last quarter. Finally, Alliance Wealth Management Group bought a new stake in shares of Park National during the third quarter worth about $314,000.

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About Park National

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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