Park National Co. (PRK) Downgraded by Zacks Investment Research
Park National Co. (NYSE:PRK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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 94.64 on Wednesday. Park National has a 12-month low of $79.01 and a 12-month high of $104.58. The stock has a market cap of $1.45 billion and a PE ratio of 18.31. The firm has a 50 day moving average price of $93.53 and a 200 day moving average price of $91.62.
Park National (NYSE:PRK) last posted its earnings results on Monday, July 25th. The company reported $1.30 EPS for the quarter, missing the Zacks’ consensus estimate of $1.38 by $0.08. On average, equities analysts expect that Park National will post $5.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Wednesday, August 17th.
Several hedge funds have recently modified their holdings of PRK. Stifel Financial Corp raised its stake 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 valued at $6,983,000 after buying an additional 14,641 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake 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 valued at $5,070,000 after buying an additional 6,702 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake 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 valued at $897,000 after buying an additional 76 shares during the last quarter.
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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