Park National (PRK) Scheduled to Post Quarterly Earnings on Friday

Park National (NYSE:PRK) will be posting its quarterly earnings results on Friday, April 19th.

Park National (NYSE:PRK) last issued its earnings results on Monday, January 22nd. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.09. Park National had a return on equity of 12.17% and a net margin of 22.46%. The firm had revenue of $140.73 million for the quarter, compared to analysts’ expectations of $119.14 million. 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

Shares of PRK opened at $124.75 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. Park National has a 1 year low of $90.28 and a 1 year high of $137.26. The stock has a market cap of $2.01 billion, a P/E ratio of 15.99 and a beta of 0.70. The stock’s 50-day moving average price is $129.68 and its two-hundred day moving average price is $121.47.

Park National Increases Dividend

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

Wall Street Analyst Weigh In

Separately, Piper Sandler assumed coverage on Park National in a report on Friday, February 23rd. They set a “neutral” rating and a $130.00 target price on the stock.

Institutional Investors Weigh In On Park National

Hedge funds have recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in shares of Park National during the first quarter worth about $51,000. Royal Bank of Canada raised its position in shares of Park National by 19.8% during the third quarter. Royal Bank of Canada now owns 582 shares of the company’s stock worth $73,000 after purchasing an additional 96 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Park National by 82.3% during the second quarter. Tower Research Capital LLC TRC now owns 970 shares of the company’s stock worth $99,000 after purchasing an additional 438 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Park National during the fourth quarter worth about $204,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Park National during the fourth quarter worth about $211,000. Institutional investors and hedge funds 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.