Park National (NYSEAMERICAN:PRK) Downgraded by Zacks Investment Research
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. “
PRK has been the topic of a number of other reports. Janney Montgomery Scott started coverage on Park National in a research note on Monday, June 17th. They set a neutral rating and a $106.00 price target on the stock. Boenning Scattergood restated a hold rating on shares of Park National in a research note on Monday, April 22nd.
Park National (NYSEAMERICAN:PRK) last released its quarterly earnings results on Monday, July 22nd. The financial services provider reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.08). The business had revenue of $98.66 million during the quarter, compared to the consensus estimate of $100.63 million.
The business also recently disclosed a dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, August 15th.
Several institutional investors have recently bought and sold shares of PRK. Nuveen Asset Management LLC purchased a new stake in shares of Park National during the second quarter worth $5,381,000. Vanguard Group Inc. increased its position in shares of Park National by 3.3% during the second quarter. Vanguard Group Inc. now owns 1,240,439 shares of the financial services provider’s stock worth $123,287,000 after acquiring an additional 39,617 shares during the period. First Trust Advisors LP increased its position in shares of Park National by 10.3% during the second quarter. First Trust Advisors LP now owns 371,930 shares of the financial services provider’s stock worth $36,966,000 after acquiring an additional 34,676 shares during the period. Park National Corp OH increased its position in shares of Park National by 1.4% during the second quarter. Park National Corp OH now owns 1,695,814 shares of the financial services provider’s stock worth $168,547,000 after acquiring an additional 23,816 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Park National by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 368,746 shares of the financial services provider’s stock worth $31,325,000 after acquiring an additional 10,583 shares during the period.
Park National Company Profile
Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in Ohio and Northern Kentucky. It 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 for individual customers.
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