Park National (NYSEAMERICAN:PRK – Get Rating) posted its earnings results on Monday. The financial services provider reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.37), MarketWatch Earnings reports. The firm had revenue of $135.20 million for the quarter, compared to analysts’ expectations of $126.90 million. Park National had a return on equity of 12.89% and a net margin of 30.46%.
Park National Stock Down 2.2 %
Shares of Park National stock traded down $2.79 during trading hours on Wednesday, reaching $121.22. 9,286 shares of the stock traded hands, compared to its average volume of 60,068. Park National has a one year low of $112.78 and a one year high of $151.59. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 13.36 and a beta of 0.79. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $129.59.
Institutional Investors Weigh In On Park National
A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Park National by 47.8% during the 1st quarter. JPMorgan Chase & Co. now owns 13,739 shares of the financial services provider’s stock valued at $1,805,000 after buying an additional 4,446 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Park National by 105.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,910 shares of the financial services provider’s stock worth $1,171,000 after purchasing an additional 4,577 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Park National by 55.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,759 shares of the financial services provider’s stock valued at $888,000 after buying an additional 2,400 shares in the last quarter. Cetera Advisor Networks LLC lifted its position in Park National by 9.1% during the first quarter. Cetera Advisor Networks LLC now owns 1,791 shares of the financial services provider’s stock valued at $235,000 after acquiring an additional 150 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in Park National by 12.7% in the first quarter. Citigroup Inc. now owns 12,662 shares of the financial services provider’s stock worth $1,664,000 after purchasing an additional 1,424 shares during the last quarter. Hedge funds and other institutional investors own 51.82% 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 for individual customers.
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