Park National (NYSEAMERICAN:PRK – Get Rating) released 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. The business had revenue of $135.20 million for the quarter, compared to analysts’ expectations of $126.90 million. Park National had a net margin of 30.46% and a return on equity of 12.89%.
Park National Trading Down 8.3 %
Park National stock opened at $124.01 on Wednesday. The stock has a market cap of $2.02 billion, a PE ratio of 13.36 and a beta of 0.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s 50 day simple moving average is $129.59. Park National has a 52 week low of $112.78 and a 52 week high of $151.59.
Hedge Funds Weigh In On Park National
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Park National by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,570,404 shares of the financial services provider’s stock worth $206,320,000 after purchasing an additional 25,819 shares during the last quarter. State Street Corp lifted its stake in Park National by 4.3% during the first quarter. State Street Corp now owns 561,054 shares of the financial services provider’s stock worth $73,711,000 after purchasing an additional 23,319 shares during the last quarter. First Trust Advisors LP lifted its stake in Park National by 31.2% in the first quarter. First Trust Advisors LP now owns 32,778 shares of the financial services provider’s stock valued at $4,306,000 after buying an additional 7,786 shares during the last quarter. Citadel Advisors LLC bought a new stake in Park National in the second quarter valued at $858,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Park National by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 137,296 shares of the financial services provider’s stock valued at $18,039,000 after buying an additional 5,268 shares during the last quarter. 51.82% of the stock is currently owned by hedge funds and other institutional investors.
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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