Park National Co. (PRK) Downgraded by Zacks Investment Research to “Sell”

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

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

Shares of Park National (NYSEMKT:PRK) opened at 95.47 on Thursday. The stock has a market capitalization of $1.46 billion, a P/E ratio of 16.96 and a beta of 0.85. Park National has a 52 week low of $92.42 and a 52 week high of $122.88. The stock has a 50 day moving average price of $97.78 and a 200 day moving average price of $103.30.

Park National (NYSEMKT:PRK) last released its earnings results on Monday, July 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by $0.17. Park National had a net margin of 24.08% and a return on equity of 10.20%. The business had revenue of $79.03 million for the quarter, compared to analysts’ expectations of $81.39 million. On average, equities research analysts expect that Park National will post $5.50 EPS for the current 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 bought at an average cost of $97.05 per share, for a total transaction of $194,100.00. Following the acquisition, the director now directly owns 3,280 shares in the company, valued at $318,324. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. raised its holdings in Park National by 0.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,540 shares of the financial services provider’s stock worth $372,000 after acquiring an additional 13 shares during the last quarter. Legal & General Group Plc raised its stake in Park National by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 4,953 shares of the financial services provider’s stock valued at $515,000 after buying an additional 91 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Park National by 1.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,950 shares of the financial services provider’s stock valued at $731,000 after buying an additional 100 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in Park National by 1.6% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 6,479 shares of the financial services provider’s stock valued at $672,000 after buying an additional 100 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in 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 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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