Zacks Investment Research Lowers Park National Co. (PRK) to Hold
Zacks Investment Research downgraded shares of Park National Co. (NYSEAMERICAN:PRK) from a buy rating to a hold rating in a report issued on Saturday morning.
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. “
A number of other equities analysts have also weighed in on the company. BidaskClub raised Park National from a sell rating to a hold rating in a research report on Saturday, September 23rd. Boenning Scattergood reaffirmed a hold rating on shares of Park National in a research report on Tuesday, October 24th.
Park National (NYSEAMERICAN:PRK) opened at $108.96 on Friday. Park National has a 12 month low of $92.42 and a 12 month high of $122.88.
Park National (NYSEAMERICAN:PRK) last issued 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 net margin of 26.44% and a return on equity of 11.73%. The business had revenue of $83.64 million during the quarter, compared to analyst estimates of $81.14 million.
ILLEGAL ACTIVITY NOTICE: This story was first published by Daily Political and is owned by of Daily Political. If you are reading this story on another website, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this story can be read at https://www.dailypolitical.com/2017/11/21/zacks-investment-research-lowers-park-national-co-prk-to-hold.html.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Thursday, November 16th. Park National’s payout ratio is 71.08%.
A number of institutional investors have recently made changes to their positions in PRK. UBS Asset Management Americas Inc. grew its holdings in Park National by 5.8% during the first quarter. UBS Asset Management Americas Inc. now owns 4,802 shares of the financial services provider’s stock worth $505,000 after buying an additional 265 shares in the last quarter. Teachers Advisors LLC grew its holdings in Park National by 2.5% during the first quarter. Teachers Advisors LLC now owns 27,225 shares of the financial services provider’s stock worth $2,864,000 after buying an additional 670 shares in the last quarter. Vanguard Group Inc. grew its holdings in Park National by 5.9% during the first quarter. Vanguard Group Inc. now owns 1,102,857 shares of the financial services provider’s stock worth $116,020,000 after buying an additional 61,073 shares in the last quarter. Geode Capital Management LLC grew its holdings in Park National by 10.8% during the first quarter. Geode Capital Management LLC now owns 108,149 shares of the financial services provider’s stock worth $11,377,000 after buying an additional 10,573 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Park National by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 286,128 shares of the financial services provider’s stock worth $30,101,000 after buying an additional 6,417 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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Park National Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park National Co. and related companies with MarketBeat.com's FREE daily email newsletter.