Park National Co. (PRK) Short Interest Update
Park National Co. (NYSE:PRK) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 584,454 shares, a decrease of 0.4% from the August 31st total of 586,534 shares. Currently, 3.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 22,018 shares, the days-to-cover ratio is currently 26.5 days.
Separately, Zacks Investment Research downgraded shares of Park National from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st.
Shares of Park National (NYSE:PRK) opened at 95.53 on Wednesday. The company has a 50-day moving average of $94.33 and a 200-day moving average of $91.86. Park National has a 52 week low of $79.01 and a 52 week high of $104.58. The stock has a market capitalization of $1.46 billion and a P/E ratio of 18.48.
Park National (NYSE:PRK) last issued its earnings results on Monday, July 25th. The company reported $1.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.38 by $0.08. On average, analysts anticipate that Park National will post $5.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Wednesday, August 17th.
A number of institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY raised its position in shares of Park National by 0.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 9,773 shares of the company’s stock worth $897,000 after buying an additional 76 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Park National by 13.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 55,235 shares of the company’s stock worth $5,070,000 after buying an additional 6,702 shares during the period. Finally, Stifel Financial Corp raised its position in shares of Park National by 23.8% in the second quarter. Stifel Financial Corp now owns 76,090 shares of the company’s stock worth $6,983,000 after buying an additional 14,641 shares during the period.
About Park National
Park National Corporation (Park) is a financial holding company. The Company’s banking operations are conducted through The Park National Bank. The Company’s segments include Park National Bank, Guardian Financial Services Company (Guardian Finance) and SE Property Holdings, LLC (SEPH). The Park National Bank is engaged in the commercial banking and trust business, generally in small and medium population Ohio communities.
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