Park National Co. (NYSEAMERICAN:PRK) – Equities researchers at Piper Sandler dropped their Q1 2020 EPS estimates for shares of Park National in a note issued to investors on Tuesday, March 24th. Piper Sandler analyst R. Siefers now forecasts that the financial services provider will post earnings of $1.62 per share for the quarter, down from their previous estimate of $1.72. Piper Sandler also issued estimates for Park National’s Q4 2020 earnings at $1.39 EPS, Q1 2021 earnings at $1.36 EPS, Q2 2021 earnings at $1.44 EPS, Q3 2021 earnings at $1.50 EPS and Q4 2021 earnings at $1.49 EPS.
Separately, Zacks Investment Research upgraded Park National from a “sell” rating to a “hold” rating in a research note on Tuesday, March 17th.
PRK stock opened at $79.54 on Thursday. Park National has a 1 year low of $71.79 and a 1 year high of $105.52.
Park National (NYSEAMERICAN:PRK) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.32). The firm had revenue of $101.23 million during the quarter, compared to analyst estimates of $101.01 million.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 21st were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 5.13%. This is a positive change from Park National’s previous quarterly dividend of $1.01. The ex-dividend date was Thursday, February 20th.
In related news, Director Robert E. Oneill purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $78.98 per share, with a total value of $394,900.00. Following the completion of the acquisition, the director now directly owns 8,230 shares of the company’s stock, valued at approximately $650,005.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Several hedge funds have recently modified their holdings of the company. Ancora Advisors LLC acquired a new stake in shares of Park National during the fourth quarter worth $31,000. FMR LLC lifted its position in shares of Park National by 54.6% in the 4th quarter. FMR LLC now owns 456 shares of the financial services provider’s stock worth $47,000 after buying an additional 161 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Park National by 79.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 575 shares of the financial services provider’s stock valued at $59,000 after buying an additional 255 shares during the period. Pacitti Group Inc. acquired a new position in shares of Park National in the 4th quarter valued at about $79,000. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Park National during the 4th quarter valued at about $126,000.
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 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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