Park National (PRK) to Release Earnings on Friday

Park National (NYSE:PRK) will be releasing its earnings data on Friday, April 19th.

Park National (NYSE:PRK) last announced its earnings results on Monday, January 22nd. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.91 by $0.09. The business had revenue of $140.73 million during the quarter, compared to the consensus estimate of $119.14 million. Park National had a net margin of 22.46% and a return on equity of 12.17%. On average, analysts expect Park National to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Park National Stock Performance

Shares of PRK stock opened at $124.75 on Thursday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 15.99 and a beta of 0.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50-day simple moving average of $129.68 and a 200 day simple moving average of $121.47. Park National has a 52 week low of $90.28 and a 52 week high of $137.26.

Park National Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 16th were issued a dividend of $1.06 per share. This is an increase from Park National’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, February 15th. This represents a $4.24 annualized dividend and a dividend yield of 3.40%. Park National’s payout ratio is presently 54.36%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler initiated coverage on shares of Park National in a report on Friday, February 23rd. They set a “neutral” rating and a $130.00 target price for the company.

Institutional Trading of Park National

Several hedge funds and other institutional investors have recently modified their holdings of PRK. JPMorgan Chase & Co. boosted its holdings in Park National by 47.8% in the 1st quarter. JPMorgan Chase & Co. now owns 13,739 shares of the company’s stock valued at $1,805,000 after purchasing an additional 4,446 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Park National by 105.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,910 shares of the company’s stock valued at $1,171,000 after purchasing an additional 4,577 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Park National by 55.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,759 shares of the company’s stock valued at $888,000 after purchasing an additional 2,400 shares during the period. Cetera Advisor Networks LLC boosted its holdings in Park National by 9.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,791 shares of the company’s stock valued at $235,000 after purchasing an additional 150 shares during the period. Finally, Citigroup Inc. boosted its holdings in Park National by 12.7% in the 1st quarter. Citigroup Inc. now owns 12,662 shares of the company’s stock valued at $1,664,000 after purchasing an additional 1,424 shares during the period. Institutional investors own 62.65% of the company’s stock.

About Park National

Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in small and medium population areas. The company offers deposits for demand, savings, and time accounts; trust and wealth management services; cash management services; safe deposit operations; electronic funds transfers; Internet and mobile banking solutions with bill pay service; credit cards; and various additional banking-related services.