The Park National Co. (NYSEMKT:PRK) Releases Earnings Results, Misses Estimates By $0.17 EPS

The Park National Co. (NYSEMKT:PRK) Releases  Earnings Results, Misses Estimates By $0.17 EPS

Shares of Park National (NYSEMKT:PRK) opened at 102.20 on Tuesday. Park National has a 52 week low of $87.60 and a 52 week high of $122.88. The firm’s 50-day moving average is $104.92 and its 200 day moving average is $106.35. The firm has a market capitalization of $1.56 billion, a PE ratio of 17.96 and a beta of 0.85.

Park National Co. (NYSEMKT:PRK) issued its quarterly earnings data on Monday. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by $0.17, Morningstar.com reports. Park National had a return on equity of 10.94% and a net margin of 26.51%.

PRK has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Park National from a “hold” rating to a “sell” rating in a research note on Wednesday, March 29th. BidaskClub cut shares of Park National from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Park National by 23,680.4% in the first quarter. BlackRock Inc. now owns 859,900 shares of the financial services provider’s stock worth $90,461,000 after buying an additional 856,284 shares during the period. Norges Bank bought a new stake in shares of Park National during the fourth quarter valued at $17,078,000. Park National Corp OH increased its stake in shares of Park National by 5.1% in the first quarter. Park National Corp OH now owns 1,966,779 shares of the financial services provider’s stock valued at $206,905,000 after buying an additional 95,204 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Park National by 5.9% in the first quarter. Vanguard Group Inc. now owns 1,102,857 shares of the financial services provider’s stock valued at $116,020,000 after buying an additional 61,073 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Park National by 45.8% in the first quarter. First Trust Advisors LP now owns 189,333 shares of the financial services provider’s stock valued at $19,918,000 after buying an additional 59,449 shares in the last quarter.

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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