Zacks Investment Research lowered shares of Park National Co. (NYSEMKT:PRK) from a buy rating to a hold rating in a research note released on Wednesday, July 12th.

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 downgraded shares of Park National from a hold rating to a sell rating in a research note on Friday, June 23rd.

Park National (NYSEMKT:PRK) traded down 0.07% during midday trading on Wednesday, hitting $98.50. The company’s stock had a trading volume of 18,656 shares. The company has a market cap of $1.51 billion, a PE ratio of 17.50 and a beta of 0.85. Park National has a 52-week low of $90.00 and a 52-week high of $122.88. The stock has a 50 day moving average of $102.64 and a 200 day moving average of $105.41.

Park National (NYSEMKT:PRK) last announced its quarterly earnings results on Monday, July 24th. The financial services provider reported $1.24 EPS for the quarter, missing the consensus estimate of $1.41 by $0.17. The company had revenue of $79.03 million during the quarter, compared to analysts’ expectations of $81.39 million. Park National had a return on equity of 10.94% and a net margin of 26.51%. On average, equities analysts expect that Park National will post $5.50 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Park National Co. (NYSEMKT:PRK) Lowered to “Hold” at Zacks Investment Research” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/08/park-national-co-nysemktprk-stock-rating-lowered-by-zacks-investment-research-updated-updated-updated.html.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.82%. Park National’s dividend payout ratio is presently 72.73%.

In other news, Director Leon Zazworsky bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was bought at an average price of $98.92 per share, with a total value of $197,840.00. Following the completion of the transaction, the director now directly owns 5,197 shares of the company’s stock, valued at approximately $514,087.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in Park National during the fourth quarter worth about $856,000. State Street Corp raised its stake in Park National by 7.0% in the fourth quarter. State Street Corp now owns 259,236 shares of the financial services provider’s stock valued at $31,025,000 after buying an additional 17,069 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Park National by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 279,711 shares of the financial services provider’s stock valued at $33,470,000 after buying an additional 7,179 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Park National by 28.9% in the fourth quarter. Renaissance Technologies LLC now owns 77,226 shares of the financial services provider’s stock valued at $9,241,000 after buying an additional 17,326 shares during the period. Finally, Two Sigma Investments LP acquired a new position in Park National during the fourth quarter worth $439,000.

Park National Company Profile

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).

Get a free copy of the Zacks research report on Park National (PRK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Park National Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park National Co. and related stocks with our FREE daily email newsletter.