Park National (PRK) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Park National (NYSEAMERICAN:PRK) from a buy rating to a hold rating in a research note published on Thursday.

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. “

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Shares of PRK stock opened at $103.15 on Thursday. Park National has a one year low of $92.42 and a one year high of $116.75.

Park National (NYSEAMERICAN:PRK) last announced its quarterly earnings data on Monday, January 22nd. The financial services provider reported $1.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.03). Park National had a net margin of 28.22% and a return on equity of 12.74%. The firm had revenue of $85.27 million for the quarter, compared to analysts’ expectations of $84.71 million.

In related news, Director Robert E. Oneill sold 368 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $103.13, for a total transaction of $37,951.84. Following the sale, the director now directly owns 7,330 shares of the company’s stock, valued at approximately $755,942.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB purchased a new stake in shares of Park National during the 4th quarter valued at about $267,000. MetLife Investment Advisors LLC purchased a new stake in shares of Park National during the 4th quarter valued at about $598,000. Millennium Management LLC purchased a new stake in shares of Park National during the 4th quarter valued at about $469,000. Raymond James & Associates boosted its holdings in shares of Park National by 95.0% during the 4th quarter. Raymond James & Associates now owns 28,808 shares of the financial services provider’s stock valued at $2,996,000 after acquiring an additional 14,038 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Park National by 109.9% during the 4th quarter. Deutsche Bank AG now owns 30,723 shares of the financial services provider’s stock valued at $3,193,000 after acquiring an additional 16,087 shares during the last quarter.

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Park National Company Profile

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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