Park National Co. (PRK) Upgraded by BidaskClub to Buy
BidaskClub upgraded shares of Park National Co. (NYSEMKT:PRK) from a hold rating to a buy rating in a research note published on Friday.
Separately, Zacks Investment Research raised shares of Park National from a sell rating to a hold rating in a research note on Friday, August 11th.
Shares of Park National (NYSEMKT PRK) traded down 0.30% during midday trading on Friday, hitting $107.99. 40,128 shares of the company were exchanged. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 19.18 and a beta of 0.85. The company has a 50-day moving average price of $97.50 and a 200-day moving average price of $102.72. Park National has a 52-week low of $92.42 and a 52-week high of $122.88.
Park National (NYSEMKT:PRK) last announced its earnings results on Monday, July 24th. The financial services provider reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.17). Park National had a net margin of 24.08% and a return on equity of 10.20%. The firm had revenue of $79.03 million during the quarter, compared to analyst estimates of $81.39 million. On average, analysts forecast that Park National will post $5.50 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Wednesday, August 16th. Park National’s payout ratio is 72.73%.
In related news, Director Robert E. Oneill acquired 2,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $97.05 per share, with a total value of $194,100.00. Following the purchase, the director now directly owns 3,280 shares in the company, valued at approximately $318,324. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Several hedge funds and other institutional investors have recently bought and sold shares of PRK. Ameritas Investment Partners Inc. purchased a new stake in shares of Park National during the 1st quarter worth about $121,000. Bank of Montreal Can grew its holdings in shares of Park National by 33.1% during the 2nd quarter. Bank of Montreal Can now owns 1,374 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 342 shares during the period. Two Sigma Securities LLC grew its holdings in shares of Park National by 27.2% during the 1st quarter. Two Sigma Securities LLC now owns 2,178 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 466 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Park National by 252.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,332 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 1,670 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Park National by 0.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,540 shares of the financial services provider’s stock worth $372,000 after purchasing an additional 13 shares during the period.
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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