Park National Co. (NYSEAMERICAN:PRK) – Investment analysts at Piper Sandler increased their Q3 2020 earnings estimates for shares of Park National in a report released on Tuesday, July 28th. Piper Sandler analyst R. Siefers now expects that the financial services provider will earn $1.57 per share for the quarter, up from their prior forecast of $1.56. Piper Sandler also issued estimates for Park National’s FY2020 earnings at $6.02 EPS and Q2 2021 earnings at $1.35 EPS.
Separately, Zacks Investment Research cut Park National from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd.
Park National (NYSEAMERICAN:PRK) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.44. The company had revenue of $112.15 million during the quarter, compared to analyst estimates of $99.16 million.
A number of institutional investors have recently modified their holdings of the stock. Invesco Ltd. purchased a new position in shares of Park National during the first quarter worth $1,616,000. Martingale Asset Management L P boosted its position in shares of Park National by 54.6% during the first quarter. Martingale Asset Management L P now owns 57,205 shares of the financial services provider’s stock worth $4,442,000 after buying an additional 20,200 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Park National by 77.9% during the first quarter. Parametric Portfolio Associates LLC now owns 35,398 shares of the financial services provider’s stock worth $2,748,000 after buying an additional 15,499 shares during the period. Geode Capital Management LLC boosted its position in shares of Park National by 7.0% during the first quarter. Geode Capital Management LLC now owns 194,321 shares of the financial services provider’s stock worth $15,087,000 after buying an additional 12,779 shares during the period. Finally, Ferris Capital LLC boosted its position in shares of Park National by 138.6% during the first quarter. Ferris Capital LLC now owns 21,408 shares of the financial services provider’s stock worth $1,662,000 after buying an additional 12,437 shares during the period.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 21st will be given a $1.02 dividend. The ex-dividend date is Thursday, August 20th. This represents a $4.08 annualized dividend and a yield of 4.76%.
About Park National
Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in Ohio and Northern Kentucky. It 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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