Park National Co. (NYSE:PRK) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 570,253 shares, a drop of 2.4% from the September 15th total of 584,454 shares. Based on an average trading volume of 25,084 shares, the short-interest ratio is presently 22.7 days. Currently, 3.8% of the company’s shares are short sold.
Separately, Zacks Investment Research raised shares of Park National from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th.
Shares of Park National (NYSE:PRK) opened at 96.01 on Thursday. Park National has a 52-week low of $79.01 and a 52-week high of $104.58. The company has a 50-day moving average of $95.54 and a 200-day moving average of $92.26. The stock has a market capitalization of $1.47 billion and a price-to-earnings ratio of 18.57.
Park National (NYSE:PRK) last released its quarterly earnings data on Monday, July 25th. The company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by $0.08. Equities research analysts anticipate that Park National will post $5.31 EPS for the current year.
Hedge funds and other 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 worth $104,000 after buying an additional 554 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 worth $5,070,000 after buying an additional 6,702 shares during the last quarter. 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 worth $6,983,000 after buying an additional 14,641 shares during the last quarter. Finally, 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 worth $897,000 after buying an additional 76 shares during the last quarter.
About Park National
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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