Park National (NYSEAMERICAN:PRK) Upgraded at Zacks Investment Research

Park National (NYSEAMERICAN:PRK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, March 17th. The firm currently has a $119.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 17.82% from the stock’s previous close.

According to Zacks, “Park National Corporation is the bank holding company for The Park National Bank, The Richland Trust Company, Century National Bank, The First-Knox National Bank of Mount Vernon, United Bank, N.A., Second National Bank, The Security National Bank and Trust Co. and The Citizens National Bank of Urbana. “

Shares of Park National (NYSEAMERICAN PRK) opened at $101.00 on Friday. Park National has a fifty-two week low of $92.42 and a fifty-two week high of $116.75. The stock has a market capitalization of $1,660.00, a PE ratio of 19.96 and a beta of 0.74.

Park National (NYSEAMERICAN:PRK) last posted its earnings results on Monday, January 22nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.03). Park National had a net margin of 28.22% and a return on equity of 12.74%. The company had revenue of $85.27 million during the quarter, compared to analysts’ expectations of $84.71 million.

In other Park National news, Director Robert E. Oneill sold 368 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $103.13, for a total value of $37,951.84. Following the transaction, the director now owns 7,330 shares of the company’s stock, valued at $755,942.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Several large investors have recently made changes to their positions in PRK. Asset Dedication LLC increased its stake in shares of Park National by 273.1% during the fourth quarter. Asset Dedication LLC now owns 1,306 shares of the financial services provider’s stock valued at $135,000 after acquiring an additional 956 shares during the period. Virginia Retirement Systems ET AL acquired a new position in shares of Park National during the third quarter valued at approximately $205,000. Summit Financial Strategies Inc. acquired a new position in Park National in the third quarter worth approximately $207,000. Xact Kapitalforvaltning AB acquired a new position in Park National in the fourth quarter worth approximately $267,000. Finally, Douglas Lane & Associates LLC acquired a new position in Park National in the fourth quarter worth approximately $283,000.

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Park National Company Profile

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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