Park National Co. (PRK) Stock Rating Upgraded by Zacks Investment Research

Park National Co. (NYSEMKT:PRK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

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 lowered shares of Park National from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th.

Park National (NYSEMKT:PRK) opened at 95.99 on Friday. Park National has a one year low of $90.34 and a one year high of $122.88. The company has a 50 day moving average of $101.48 and a 200-day moving average of $104.89. The company has a market cap of $1.47 billion, a P/E ratio of 17.05 and a beta of 0.85.

Park National (NYSEMKT:PRK) last posted its quarterly earnings results on Monday, July 24th. The financial services provider reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by $0.17. The business had revenue of $79.03 million for the quarter, compared to analyst estimates of $81.39 million. Park National had a return on equity of 10.94% and a net margin of 26.51%. On average, 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 Leon Zazworsky bought 2,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were bought at an average cost of $98.92 per share, for a total transaction of $197,840.00. Following the acquisition, the director now directly owns 5,197 shares of the company’s stock, valued at approximately $514,087.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of institutional investors have recently bought and sold shares of PRK. Ameritas Investment Partners Inc. purchased a new position in Park National during the first quarter valued at $121,000. Bank of Montreal Can raised its position in Park National by 33.1% in the second quarter. Bank of Montreal Can now owns 1,374 shares of the financial services provider’s stock valued at $143,000 after buying an additional 342 shares during the last quarter. Creative Planning raised its position in Park National by 123.3% in the first quarter. Creative Planning now owns 1,992 shares of the financial services provider’s stock valued at $210,000 after buying an additional 1,100 shares during the last quarter. Two Sigma Securities LLC raised its position in Park National by 27.2% in the first quarter. Two Sigma Securities LLC now owns 2,178 shares of the financial services provider’s stock valued at $229,000 after buying an additional 466 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Park National by 252.3% in the second quarter. BNP Paribas Arbitrage SA now owns 2,332 shares of the financial services provider’s stock valued at $242,000 after buying an additional 1,670 shares during the last quarter.

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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