Park National (NYSEAMERICAN:PRK) Rating Lowered to Sell at Zacks Investment Research

Park National (NYSEAMERICAN:PRK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Park National Corporation is the bank holding company for The Park National Bank, The Richland Trust Company, Century National Bank, The First-Knox National Bank of Mount Vernon, United Bank, N.A., Second National Bank, The Security National Bank and Trust Co. and The Citizens National Bank of Urbana. “

PRK has been the subject of a number of other reports. Janney Montgomery Scott began coverage on shares of Park National in a report on Monday, June 17th. They issued a “neutral” rating and a $106.00 price objective for the company. Boenning Scattergood reiterated a “hold” rating on shares of Park National in a report on Monday, April 22nd.

Shares of PRK opened at $91.35 on Tuesday. Park National has a fifty-two week low of $79.27 and a fifty-two week high of $112.09.

Park National (NYSEAMERICAN:PRK) last announced its quarterly earnings data on Monday, July 22nd. The financial services provider reported $1.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.08). The firm had revenue of $98.66 million for the quarter, compared to analysts’ expectations of $100.63 million.

Large investors have recently bought and sold shares of the stock. Laurel Wealth Advisors LLC bought a new stake in Park National during the 1st quarter valued at $163,000. Rhumbline Advisers increased its position in Park National by 0.5% during the 1st quarter. Rhumbline Advisers now owns 21,044 shares of the financial services provider’s stock valued at $1,994,000 after purchasing an additional 108 shares during the period. Park National Corp OH increased its position in Park National by 1.4% during the 2nd quarter. Park National Corp OH now owns 1,695,814 shares of the financial services provider’s stock valued at $168,547,000 after purchasing an additional 23,816 shares during the period. Dimensional Fund Advisors LP increased its position in Park National by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 368,746 shares of the financial services provider’s stock valued at $31,325,000 after purchasing an additional 10,583 shares during the period. Finally, PARK CIRCLE Co increased its position in Park National by 31.3% during the 1st quarter. PARK CIRCLE Co now owns 21,000 shares of the financial services provider’s stock valued at $1,994,000 after purchasing an additional 5,000 shares during the period.

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.

Read More: What is the operating income formula?

Get a free copy of the Zacks research report on Park National (PRK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Park National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park National and related companies with MarketBeat.com's FREE daily email newsletter.