Park National (NYSEAMERICAN:PRK) Posts Earnings Results, Misses Estimates By $0.37 EPS

Park National (NYSEAMERICAN:PRKGet Rating) announced its earnings results on Monday. The financial services provider reported $1.94 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.37), MarketWatch Earnings reports. Park National had a net margin of 30.46% and a return on equity of 12.89%. The business had revenue of $135.20 million for the quarter, compared to the consensus estimate of $126.90 million.

Park National Stock Down 2.1 %

NYSEAMERICAN:PRK traded down $2.61 on Wednesday, hitting $121.40. The stock had a trading volume of 11,991 shares, compared to its average volume of 60,237. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. Park National has a 52 week low of $112.78 and a 52 week high of $151.59. The company’s fifty day moving average price is $129.59. The company has a market cap of $1.97 billion, a P/E ratio of 13.36 and a beta of 0.79.

Institutional Trading of Park National

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in shares of Park National by 47.8% in the 1st quarter. JPMorgan Chase & Co. now owns 13,739 shares of the financial services provider’s stock worth $1,805,000 after acquiring an additional 4,446 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Park National by 105.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,910 shares of the financial services provider’s stock valued at $1,171,000 after buying an additional 4,577 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Park National by 55.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,759 shares of the financial services provider’s stock worth $888,000 after buying an additional 2,400 shares in the last quarter. Cetera Advisor Networks LLC raised its position in Park National by 9.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,791 shares of the financial services provider’s stock valued at $235,000 after buying an additional 150 shares during the last quarter. Finally, Citigroup Inc. raised its position in Park National by 12.7% in the 1st quarter. Citigroup Inc. now owns 12,662 shares of the financial services provider’s stock valued at $1,664,000 after buying an additional 1,424 shares during the last quarter. Institutional investors and hedge funds own 51.82% of the company’s stock.

About Park National

(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.

Read More

Earnings History for Park National (NYSEAMERICAN:PRK)

Receive News & Ratings for Park National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park National and related companies with MarketBeat.com's FREE daily email newsletter.