Boenning Scattergood Equities Analysts Raise Earnings Estimates for Park National Co. (NYSEAMERICAN:PRK)

Park National Co. (NYSEAMERICAN:PRKGet Rating) – Stock analysts at Boenning Scattergood raised their FY2022 earnings estimates for Park National in a report released on Thursday, April 28th. Boenning Scattergood analyst D. Cardenas now forecasts that the financial services provider will earn $8.55 per share for the year, up from their prior estimate of $7.80.

Separately, Zacks Investment Research upgraded shares of Park National from a “hold” rating to a “buy” rating and set a $151.00 price target for the company in a research report on Thursday, March 31st.

Shares of Park National stock opened at $117.85 on Monday. Park National has a 12-month low of $108.51 and a 12-month high of $145.33. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.91 billion, a PE ratio of 12.56 and a beta of 0.78.

A number of hedge funds and other institutional investors have recently modified their holdings of PRK. Royal Bank of Canada boosted its stake in shares of Park National by 58.9% during the 2nd quarter. Royal Bank of Canada now owns 1,386 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 514 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Park National by 27.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,275 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 275 shares during the last quarter. Cetera Advisor Networks LLC acquired a new stake in shares of Park National during the 3rd quarter worth about $200,000. MFA Wealth Advisors LLC acquired a new stake in shares of Park National during the 4th quarter worth about $205,000. Finally, Segment Wealth Management LLC acquired a new stake in shares of Park National during the 4th quarter worth about $206,000. 61.05% of the stock is currently owned by hedge funds and other institutional investors.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 20th will be paid a $1.04 dividend. The ex-dividend date is Thursday, May 19th. This represents a $4.16 dividend on an annualized basis and a yield of 3.53%. Park National’s payout ratio is 44.35%.

Park National Company Profile (Get Rating)

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 for individual customers.

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Earnings History and Estimates for Park National (NYSEAMERICAN:PRK)

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