Park National (NYSEAMERICAN:PRK – Get Rating) announced its earnings results on Monday. The financial services provider reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.37), MarketWatch Earnings reports. Park National had a return on equity of 12.89% and a net margin of 30.46%. The business had revenue of $135.20 million for the quarter, compared to analysts’ expectations of $126.90 million.
Park National Stock Down 1.1 %
Shares of PRK traded down $1.38 during mid-day trading on Wednesday, hitting $122.63. 4,650 shares of the company traded hands, compared to its average volume of 59,778. The firm’s 50 day simple moving average is $129.59. The company has a market capitalization of $1.99 billion, a P/E ratio of 13.36 and a beta of 0.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. Park National has a 1-year low of $112.78 and a 1-year high of $151.59.
Institutional Investors Weigh In On Park National
Large investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in Park National during the 1st quarter worth about $51,000. Royal Bank of Canada lifted its holdings in shares of Park National by 19.8% during the third quarter. Royal Bank of Canada now owns 582 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 96 shares during the period. Two Sigma Investments LP purchased a new stake in Park National in the third quarter valued at approximately $212,000. Cetera Advisor Networks LLC increased its holdings 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 worth $235,000 after buying an additional 150 shares during the period. Finally, PDT Partners LLC purchased a new position in Park National during the 2nd quarter worth approximately $380,000. 51.82% of the stock is owned by hedge funds and other institutional investors.
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 for individual customers.
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