Park National (PRK) Scheduled to Post Earnings on Friday

Park National (NYSE:PRK) is scheduled to be announcing its earnings results on Friday, April 19th.

Park National (NYSE:PRK) last posted its quarterly earnings data on Monday, January 22nd. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.09. Park National had a net margin of 22.46% and a return on equity of 12.17%. The business had revenue of $140.73 million during the quarter, compared to analyst estimates of $119.14 million. 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 Price Performance

Park National stock opened at $124.75 on Thursday. Park National has a 1 year low of $90.28 and a 1 year high of $137.26. The firm has a 50 day moving average price of $129.68 and a 200 day moving average price of $121.47. The company has a market cap 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.

Park National Increases Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Park National

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

Park National Company Profile

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.