Park National Co. (NYSE:PRK) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 584,454 shares, a decline of 0.4% from the August 31st total of 586,534 shares. Approximately 3.9% of the company’s shares are short sold. Based on an average daily volume of 22,018 shares, the days-to-cover ratio is presently 26.5 days.
Park National (NYSE:PRK) opened at 94.58 on Wednesday. The firm’s 50-day moving average is $94.89 and its 200-day moving average is $92.05. The stock has a market capitalization of $1.45 billion and a P/E ratio of 18.29. Park National has a 12 month low of $79.01 and a 12 month high of $104.58.
Park National (NYSE:PRK) last posted its earnings results on Monday, July 25th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by $0.08. On average, equities analysts expect that Park National will post $5.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.98%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY increased its position in Park National by 0.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 9,773 shares of the company’s stock worth $897,000 after buying an additional 76 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Park National by 13.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 55,235 shares of the company’s stock worth $5,070,000 after buying an additional 6,702 shares in the last quarter. Finally, Stifel Financial Corp increased its position in Park National by 23.8% in the second quarter. Stifel Financial Corp now owns 76,090 shares of the company’s stock worth $6,983,000 after buying an additional 14,641 shares in the last quarter.
Separately, Zacks Investment Research raised shares of Park National from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th.
Park National Company Profile
Park National Corporation (Park) is a financial holding company. The Company’s banking operations are conducted through The Park National Bank. The Company’s segments include Park National Bank, Guardian Financial Services Company (Guardian Finance) and SE Property Holdings, LLC (SEPH). The Park National Bank is engaged in the commercial banking and trust business, generally in small and medium population Ohio communities.
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