Park National (PRK) Set to Announce Earnings on Friday

Park National (NYSE:PRK) is set to post its quarterly earnings results on Friday, April 19th.

Park National (NYSE:PRK) last issued its quarterly earnings data on Monday, January 22nd. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.09. Park National had a net margin of 22.46% and a return on equity of 12.17%. The company had revenue of $140.73 million for the quarter, compared to the consensus estimate of $119.14 million. On average, analysts expect Park National to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Park National Trading Up 0.4 %

NYSE PRK opened at $124.75 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $129.68 and a 200 day moving average price of $121.47. The stock has a market capitalization of $2.01 billion, a P/E ratio of 15.99 and a beta of 0.70. Park National has a 52-week low of $90.28 and a 52-week high of $137.26.

Park National Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 16th were paid a dividend of $1.06 per share. The ex-dividend date was Thursday, February 15th. This is a boost from Park National’s previous quarterly dividend of $1.05. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.40%. Park National’s dividend payout ratio is 54.36%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Park National by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock valued at $226,009,000 after buying an additional 12,925 shares during the period. State Street Corp raised its position in Park National by 8.0% in the first quarter. State Street Corp now owns 580,213 shares of the company’s stock worth $68,796,000 after acquiring an additional 43,116 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Park National by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 409,608 shares of the company’s stock worth $48,565,000 after acquiring an additional 28,619 shares in the last quarter. Geode Capital Management LLC increased its stake in Park National by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 281,835 shares of the company’s stock worth $28,837,000 after purchasing an additional 6,238 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Park National by 3.1% in the 4th quarter. Northern Trust Corp now owns 190,309 shares of the company’s stock worth $25,284,000 after purchasing an additional 5,715 shares in the last quarter. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler started coverage on shares of Park National in a research note on Friday, February 23rd. They issued a “neutral” rating and a $130.00 price objective on the 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.