Trade Report: The Park National Co. (PRK) Lifted to Hold at Zacks Investment Research

The Park National Co. (PRK) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Park National Co. (NYSE:PRK) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

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. “

Park National (NYSE:PRK) opened at 94.14 on Tuesday. The company’s 50-day moving average price is $95.47 and its 200 day moving average price is $92.28. Park National has a 52-week low of $79.01 and a 52-week high of $104.58. The stock has a market capitalization of $1.44 billion and a PE ratio of 18.21.

Park National (NYSE:PRK) last released its quarterly earnings data on Monday, July 25th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by $0.08. Equities analysts forecast that Park National will post $5.31 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in Park National by 104.5% in the third quarter. BNP Paribas Arbitrage SA now owns 1,084 shares of the company’s stock valued at $104,000 after buying an additional 554 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in 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. Schwab Charles Investment Management Inc. boosted its position in 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, Stifel Financial Corp boosted its position in 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.

Park National Company Profile

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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