Park National Co. (PRK) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Park National Co. (NYSEMKT:PRK) from a sell rating to a hold rating in a research note released on Wednesday 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. “

Separately, BidaskClub cut shares of Park National from a sell rating to a strong sell rating in a report on Monday, July 24th.

Park National (NYSEMKT:PRK) traded down 0.54% during midday trading on Wednesday, reaching $109.14. The company had a trading volume of 23,955 shares. The company’s 50 day moving average is $101.98 and its 200-day moving average is $102.79. Park National has a 52-week low of $92.42 and a 52-week high of $122.88. The company has a market capitalization of $1.67 billion, a P/E ratio of 19.39 and a beta of 0.85.

Park National (NYSEMKT:PRK) last issued its earnings results on Monday, July 24th. The financial services provider reported $1.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.17). The business had revenue of $79.03 million for the quarter, compared to the consensus estimate of $81.39 million. Park National had a return on equity of 10.20% and a net margin of 24.08%. Equities analysts expect that Park National will post $5.50 earnings per share for the current fiscal year.

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In other news, Director Robert E. Oneill acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average price of $97.05 per share, with a total value of $194,100.00. Following the purchase, the director now owns 3,280 shares of the company’s stock, valued at approximately $318,324. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

A number of institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. boosted its stake in shares of Park National by 5.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 4,802 shares of the financial services provider’s stock valued at $505,000 after buying an additional 265 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Park National during the 1st quarter valued at $379,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Park National during the 1st quarter valued at $121,000. Victory Capital Management Inc. boosted its stake in shares of Park National by 20.8% during the 1st quarter. Victory Capital Management Inc. now owns 5,765 shares of the financial services provider’s stock valued at $606,000 after buying an additional 992 shares during the period. Finally, American International Group Inc. boosted its stake in shares of Park National by 7.0% during the 1st quarter. American International Group Inc. now owns 8,181 shares of the financial services provider’s stock valued at $861,000 after buying an additional 532 shares during the period.

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).

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