Park National (NYSEAMERICAN:PRK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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. “
Shares of Park National (PRK) opened at $110.80 on Tuesday. Park National has a 52-week low of $92.42 and a 52-week high of $116.75. The company has a market cap of $1,660.00, a PE ratio of 19.96 and a beta of 0.74.
Park National (NYSEAMERICAN:PRK) last announced its quarterly earnings data on Monday, January 22nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.03). The business had revenue of $85.27 million during the quarter, compared to analyst estimates of $84.71 million. Park National had a return on equity of 12.74% and a net margin of 28.22%.
In other news, Director Robert E. Oneill sold 368 shares of Park National stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $103.13, for a total value of $37,951.84. Following the transaction, the director now owns 7,330 shares of the company’s stock, valued at approximately $755,942.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several institutional investors have recently added to or reduced their stakes in PRK. Asset Dedication LLC increased its position in shares of Park National by 273.1% in the fourth quarter. Asset Dedication LLC now owns 1,306 shares of the financial services provider’s stock worth $135,000 after acquiring an additional 956 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in shares of Park National in the third quarter worth approximately $205,000. Summit Financial Strategies Inc. purchased a new position in shares of Park National in the third quarter worth approximately $207,000. Xact Kapitalforvaltning AB purchased a new position in shares of Park National in the fourth quarter worth approximately $267,000. Finally, Douglas Lane & Associates LLC purchased a new position in shares of Park National in the fourth quarter worth approximately $283,000.
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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