Park National (PRK) to Release Earnings on Friday

Park National (NYSE:PRK) is scheduled to be issuing its quarterly earnings data on Friday, April 19th.

Park National (NYSE:PRK) last posted its earnings results on Monday, January 22nd. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.09. The firm had revenue of $140.73 million during the quarter, compared to the consensus estimate of $119.14 million. Park National had a net margin of 22.46% and a return on equity of 12.17%. On average, analysts expect Park National to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Park National Price Performance

PRK opened at $124.75 on Thursday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 15.99 and a beta of 0.70. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $129.68 and a 200-day moving average price of $121.47. Park National has a twelve month low of $90.28 and a twelve month high of $137.26.

Park National Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 16th were paid a $1.06 dividend. This is an increase from Park National’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, February 15th. This represents a $4.24 annualized dividend and a dividend yield of 3.40%. Park National’s dividend payout ratio (DPR) is presently 54.36%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler initiated coverage on shares of Park National in a research note on Friday, February 23rd. They issued a “neutral” rating and a $130.00 target price for the company.

Hedge Funds Weigh In On Park National

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in Park National by 5.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 49,677 shares of the company’s stock valued at $6,600,000 after acquiring an additional 2,449 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Park National by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947 shares of the company’s stock valued at $1,986,000 after acquiring an additional 358 shares in the last quarter. Legal & General Group Plc grew its stake in Park National by 1.0% during the fourth quarter. Legal & General Group Plc now owns 42,308 shares of the company’s stock valued at $5,621,000 after acquiring an additional 435 shares in the last quarter. Barclays PLC grew its stake in Park National by 82.0% during the fourth quarter. Barclays PLC now owns 28,860 shares of the company’s stock valued at $3,834,000 after acquiring an additional 13,007 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Park National by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock valued at $226,009,000 after acquiring an additional 12,925 shares in the last quarter. Hedge funds and other institutional investors own 62.65% 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.