Park National Co. (PRK) Downgraded by BidaskClub
BidaskClub lowered shares of Park National Co. (NYSEMKT:PRK) from a buy rating to a hold rating in a report issued on Friday.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Park National from a hold rating to a sell rating in a research note on Friday, July 28th. Boenning Scattergood reissued a hold rating on shares of Park National in a research report on Tuesday, October 24th.
Shares of Park National (NYSEMKT PRK) opened at $104.00 on Friday. Park National has a 12 month low of $92.42 and a 12 month high of $122.88.
Park National (NYSEMKT:PRK) last released its quarterly earnings results on Monday, October 23rd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by ($0.02). Park National had a return on equity of 11.73% and a net margin of 26.44%. The firm had revenue of $83.64 million for the quarter, compared to analyst estimates of $81.14 million.
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The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be given a $0.94 dividend. The ex-dividend date is Thursday, November 16th. This represents a $3.76 annualized dividend and a dividend yield of 3.62%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PRK. UBS Asset Management Americas Inc. boosted its position in shares of Park National by 5.8% in the first quarter. UBS Asset Management Americas Inc. now owns 4,802 shares of the financial services provider’s stock worth $505,000 after acquiring an additional 265 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Park National by 2.5% in the first quarter. Teachers Advisors LLC now owns 27,225 shares of the financial services provider’s stock worth $2,864,000 after acquiring an additional 670 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Park National by 3.6% in the first quarter. California Public Employees Retirement System now owns 43,046 shares of the financial services provider’s stock worth $4,528,000 after acquiring an additional 1,500 shares during the last quarter. Vanguard Group Inc. raised its holdings in Park National by 5.9% in the first quarter. Vanguard Group Inc. now owns 1,102,857 shares of the financial services provider’s stock valued at $116,020,000 after buying an additional 61,073 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Park National by 10.8% in the first quarter. Geode Capital Management LLC now owns 108,149 shares of the financial services provider’s stock valued at $11,377,000 after buying an additional 10,573 shares during the period.
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).
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