Park National (NYSEAMERICAN:PRK) Posts Earnings Results, Misses Expectations By $0.37 EPS

Park National (NYSEAMERICAN:PRKGet Rating) issued its quarterly earnings data on Monday. The financial services provider reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.37), MarketWatch Earnings reports. Park National had a return on equity of 12.89% and a net margin of 30.46%. The business had revenue of $135.20 million during the quarter, compared to analysts’ expectations of $126.90 million.

Park National Price Performance

Shares of NYSEAMERICAN:PRK traded down $1.38 during midday trading on Wednesday, reaching $122.63. 4,650 shares of the company’s stock were exchanged, compared to its average volume of 59,778. The company has a market capitalization of $1.99 billion, a PE ratio of 13.36 and a beta of 0.79. Park National has a fifty-two week low of $112.78 and a fifty-two week high of $151.59. The stock has a 50 day moving average price of $129.59. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

Institutional Investors Weigh In On Park National

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Park National by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,601,843 shares of the financial services provider’s stock valued at $199,397,000 after acquiring an additional 20,598 shares during the period. State Street Corp increased its stake in Park National by 0.8% during the 2nd quarter. State Street Corp now owns 565,422 shares of the financial services provider’s stock worth $68,557,000 after buying an additional 4,368 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Park National by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 387,908 shares of the financial services provider’s stock worth $50,963,000 after buying an additional 1,704 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Park National by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 173,204 shares of the financial services provider’s stock valued at $21,562,000 after buying an additional 4,373 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Park National by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 137,296 shares of the financial services provider’s stock worth $18,039,000 after acquiring an additional 5,268 shares in the last quarter. 51.82% of the stock is owned by hedge funds and other institutional investors.

Park National Company Profile

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Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in small and medium population areas. The company offers deposits for demand, savings, and time accounts; trust and wealth management services; cash management services; safe deposit operations; electronic funds transfers; Internet and mobile banking solutions with bill pay service; credit cards; and various additional banking-related services for individual customers.

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Earnings History for Park National (NYSEAMERICAN:PRK)

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