In a report released today, Scott Beury from Boenning & Scattergood maintained a Hold rating on Park National Corp (NYSE: PRK). The company’s shares closed yesterday at $105.56.
Beury wrote:
“We view Park National as a mature, high-performing bank with top-tier fundamentals. The company’s strategy focuses on providing the traditional “community bank” experience while also offering the scale and capabilities of a regional institution. This approach has led to a loyal base of many long-standing customers, enabling management to conservatively grow the franchise through a combination of supportive fee-based revenues, disciplined expense control, and prudent capital allocation, which has resulted in a long track record of consistently superior return metrics. That said, PRK shares continue to trade at a premium to peers, which we believe is warranted, but nonetheless limits the stock’s near-term upside due to the company’s modest growth trajectory.”
According to TipRanks.com, Beury is a 3-star analyst with an average return of 3.2% and a 54.8% success rate. Beury covers the Financial sector, focusing on stocks such as Farmers & Merchants Bancorp, Inc., Old National Bancorp Capital, and Independent Bank Corporation.
Park National Corp has an analyst consensus of Hold.
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Park National Corp’s market cap is currently $1.61B and has a P/E ratio of 15.59. The company has a Price to Book ratio of 2.13.
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Park National Corp. operates as a holding company, which engages in owning and supervising its subsidiaries. The company operates its business through three segments: The Park National Bank, SE Property Holdings, LLC and Guardian Financial Services Co. The Park National Bank segment engages in providing banking and financial services in Ohio and Kentucky.
