Park National Co. (PRK) Upgraded at BidaskClub
BidaskClub upgraded shares of Park National Co. (NYSEMKT:PRK) from a strong sell rating to a sell rating in a report issued on Wednesday.
Separately, Zacks Investment Research raised shares of Park National from a hold rating to a buy rating and set a $116.00 price target for the company in a report on Tuesday, June 27th.
Shares of Park National (NYSEMKT:PRK) opened at 101.25 on Wednesday. Park National has a 1-year low of $92.42 and a 1-year high of $122.88. The stock’s 50 day moving average price is $97.32 and its 200 day moving average price is $102.90. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 17.98 and a beta of 0.85.
Park National (NYSEMKT:PRK) last released its earnings results on Monday, July 24th. The financial services provider reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.17). Park National had a return on equity of 10.20% and a net margin of 24.08%. The business had revenue of $79.03 million for the quarter, compared to analyst estimates of $81.39 million. Analysts expect that Park National will post $5.50 EPS for the current year.
The business 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 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Wednesday, August 16th. Park National’s payout ratio is presently 72.73%.
In related news, Director Robert E. Oneill bought 2,000 shares of Park National stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $97.05 per share, with a total value of $194,100.00. Following the purchase, the director now owns 3,280 shares in the company, valued at $318,324. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Park National by 23,680.4% during the 1st quarter. BlackRock Inc. now owns 859,900 shares of the financial services provider’s stock worth $90,461,000 after purchasing an additional 856,284 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Park National by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 1,102,857 shares of the financial services provider’s stock worth $116,020,000 after acquiring an additional 61,073 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Park National by 30.4% during the 1st quarter. Renaissance Technologies LLC now owns 100,705 shares of the financial services provider’s stock worth $10,594,000 after acquiring an additional 23,479 shares in the last quarter. Citadel Advisors LLC boosted its position in shares of Park National by 491.3% during the 1st quarter. Citadel Advisors LLC now owns 24,236 shares of the financial services provider’s stock worth $2,550,000 after acquiring an additional 20,137 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Park National by 9.8% during the 2nd quarter. First Trust Advisors LP now owns 207,942 shares of the financial services provider’s stock worth $21,568,000 after acquiring an additional 18,609 shares in the last quarter.
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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