Park National (PRK) Given “Hold” Rating at Boenning Scattergood
Boenning Scattergood restated their hold rating on shares of Park National (NYSEAMERICAN:PRK) in a report published on Tuesday. Boenning Scattergood also issued estimates for Park National’s Q3 2018 earnings at $1.74 EPS, FY2019 earnings at $7.42 EPS and FY2020 earnings at $8.00 EPS.
Separately, Zacks Investment Research cut Park National from a buy rating to a hold rating in a research note on Wednesday, September 26th.
Shares of NYSEAMERICAN:PRK opened at $98.25 on Tuesday. Park National has a 1 year low of $96.91 and a 1 year high of $119.00.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRK. The Manufacturers Life Insurance Company lifted its stake in Park National by 12.1% during the first quarter. The Manufacturers Life Insurance Company now owns 321,499 shares of the financial services provider’s stock worth $33,359,000 after purchasing an additional 34,664 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Park National by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 357,518 shares of the financial services provider’s stock worth $39,835,000 after purchasing an additional 32,570 shares during the last quarter. BlackRock Inc. lifted its stake in Park National by 3.6% during the second quarter. BlackRock Inc. now owns 902,315 shares of the financial services provider’s stock worth $100,536,000 after purchasing an additional 31,506 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Park National by 31.7% during the second quarter. Renaissance Technologies LLC now owns 91,005 shares of the financial services provider’s stock worth $10,140,000 after purchasing an additional 21,905 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in Park National during the first quarter worth $789,000.
Park National Company Profile
Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in Ohio and Northern Kentucky. It 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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