Park National Co. (NYSEMKT:PRK) Stock Rating Upgraded by Zacks Investment Research
Park National Co. (NYSEMKT:PRK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
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 lowered Park National from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd.
Shares of Park National (PRK) opened at 96.85 on Friday. The company’s 50 day moving average is $101.71 and its 200-day moving average is $105.00. The company has a market capitalization of $1.48 billion, a PE ratio of 17.20 and a beta of 0.85. Park National has a 52 week low of $90.10 and a 52 week high of $122.88.
Park National (NYSEMKT:PRK) last posted its quarterly earnings data on Monday, July 24th. The financial services provider reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by $0.17. The business had revenue of $79.03 million during the quarter, compared to analyst estimates of $81.39 million. Park National had a return on equity of 10.94% and a net margin of 26.51%. On average, analysts expect that Park National will post $5.50 EPS for the current fiscal year.
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In other Park National news, Director Leon Zazworsky acquired 2,000 shares of Park National stock in a transaction on Monday, July 31st. The shares were bought at an average price of $98.92 per share, with a total value of $197,840.00. Following the completion of the purchase, the director now owns 5,197 shares in the company, valued at $514,087.24. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Several institutional investors have recently modified their holdings of PRK. Ameritas Investment Partners Inc. purchased a new position in shares of Park National during the first quarter valued at about $121,000. Bank of Montreal Can raised its position in shares of Park National by 33.1% in the second quarter. Bank of Montreal Can now owns 1,374 shares of the financial services provider’s stock valued at $143,000 after buying an additional 342 shares during the period. Creative Planning raised its position in shares of Park National by 123.3% in the first quarter. Creative Planning now owns 1,992 shares of the financial services provider’s stock valued at $210,000 after buying an additional 1,100 shares during the period. Two Sigma Securities LLC raised its position in shares of Park National by 27.2% in the first quarter. Two Sigma Securities LLC now owns 2,178 shares of the financial services provider’s stock valued at $229,000 after buying an additional 466 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in shares of Park National by 252.3% in the second quarter. BNP Paribas Arbitrage SA now owns 2,332 shares of the financial services provider’s stock valued at $242,000 after buying an additional 1,670 shares during the period.
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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