Boenning Scattergood Comments on Park National Co.’s Q1 2018 Earnings (PRK)

Park National Co. (NYSEAMERICAN:PRK) – Research analysts at Boenning Scattergood increased their Q1 2018 earnings per share (EPS) estimates for shares of Park National in a research note issued to investors on Wednesday, according to Zacks Investment Research. Boenning Scattergood analyst S. Beury now expects that the financial services provider will post earnings per share of $1.65 for the quarter, up from their prior forecast of $1.42. Boenning Scattergood has a “Hold” rating on the stock.

Park National (NYSEAMERICAN:PRK) last posted its earnings results on Monday, October 23rd. The financial services provider reported $1.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by ($0.02). The business had revenue of $83.64 million for the quarter, compared to the consensus estimate of $81.14 million. Park National had a return on equity of 11.73% and a net margin of 26.44%.

A number of other brokerages have also commented on PRK. Zacks Investment Research upgraded Park National from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a report on Thursday, October 26th. BidaskClub upgraded Park National from a “hold” rating to a “buy” rating in a report on Friday, September 29th.

Shares of Park National (PRK) traded up $0.97 during trading on Thursday, hitting $107.92. The stock had a trading volume of 10,690 shares, compared to its average volume of 25,535. The company has a market capitalization of $1,650.00, a price-to-earnings ratio of 20.40 and a beta of 0.75. Park National has a 12 month low of $92.42 and a 12 month high of $117.60.

Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in shares of Park National by 33.1% in the second quarter. Bank of Montreal Can now owns 1,374 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 342 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of Park National in the third quarter valued at about $205,000. Summit Financial Strategies Inc. acquired a new stake in shares of Park National in the third quarter valued at about $207,000. BNP Paribas Arbitrage SA increased its position in shares of Park National by 252.3% in the second quarter. BNP Paribas Arbitrage SA now owns 2,332 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 1,670 shares during the last quarter. Finally, Alliance Wealth Management Group acquired a new stake in shares of Park National in the third quarter valued at about $314,000.

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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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