Park National Co. (PRK) Downgraded by Zacks Investment Research to “Hold”
Park National Co. (NYSE:PRK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
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 (NYSE:PRK) opened at 112.13 on Wednesday. The stock’s 50 day moving average price is $96.42 and its 200 day moving average price is $93.34. The firm has a market cap of $1.72 billion and a price-to-earnings ratio of 19.85. Park National has a 12 month low of $79.01 and a 12 month high of $112.82.
Park National (NYSE:PRK) last posted its quarterly earnings results on Monday, October 24th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.38. Equities research analysts predict that Park National will post $5.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Friday, November 18th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Wednesday, November 16th.
A number of large investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY increased its stake in 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. Stifel Financial Corp increased its stake in 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. BNP Paribas Arbitrage SA increased its stake in Park National by 104.5% in the third quarter. BNP Paribas Arbitrage SA now owns 1,084 shares of the company’s stock worth $104,000 after buying an additional 554 shares during the period. Schwab Charles Investment Management Inc. increased its stake in 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, Teachers Advisors LLC increased its stake in Park National by 0.9% in the third quarter. Teachers Advisors LLC now owns 25,906 shares of the company’s stock worth $2,487,000 after buying an additional 238 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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