Last $82.49 USD
Change Today -0.75 / -0.90%
Volume 25.0K
PRK On Other Exchanges
Symbol
Exchange
NYSE Amex
As of 8:04 PM 01/27/15 All times are local (Market data is delayed by at least 15 minutes).

park national corp (PRK) Snapshot

Open
$83.15
Previous Close
$83.24
Day High
$83.94
Day Low
$81.01
52 Week High
12/29/14 - $89.84
52 Week Low
05/16/14 - $70.51
Market Cap
1.3B
Average Volume 10 Days
20.5K
EPS TTM
$5.46
Shares Outstanding
15.4M
EX-Date
02/18/15
P/E TM
15.1x
Dividend
$3.76
Dividend Yield
4.56%
Current Stock Chart for PARK NATIONAL CORP (PRK)

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park national corp (PRK) Details

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. Its banking products and services include deposits for demand, savings, and time accounts; commercial, industrial, consumer, and real estate loans consisting of installment loans, credit cards, home equity lines of credit, and commercial leasing; trust and wealth management services; cash management services; safe deposit operations; electronic funds transfers; Internet and mobile banking solutions with bill pay service; and various additional banking-related services for individual customers. Park National Corporation, through its subsidiaries, is also involved in consumer finance, aircraft financing, and asset management businesses; and purchase and sale of real estate properties. As of December 31, 2013, it operated 123 financial service offices and a network of 144 automated teller machines. The company was founded in 1908 and is headquartered in Newark, Ohio.

park national corp (PRK) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $763.3K
Chief Financial Officer, Secretary, Treasurer...
Total Annual Compensation: $375.0K
Compensation as of Fiscal Year 2013.

park national corp (PRK) Key Developments

Park National Corp. and The Park National Bank Inc. Announces Directorate Changes

On January 22, 2015, William T. McConnell, who currently serves in the class of directors of Park National Corp. whose terms expire at the 2015 annual meeting of shareholders, notified the company that he had decided to retire and not stand for re-election to the board of directors. Mr. McConnell's term as a director of the company will expire immediately prior to the 2015 annual meeting, which will be held on April 27, 2015. In addition, Mr. McConnell will retire as a director of the company’s national banking association subsidiary, The Park National Bank, effective April 27, 2015. Mr. McConnell has served as a director of the company since 1986 and as a member of the board of directors of Park National Bank since 1977, a span of nearly five decades. On January 26, 2015, upon the recommendation of its nominating and corporate governance committee, the board of directors of Park elected James R. DeRoberts to fill the vacancy in the class of directors whose terms are to expire at the 2017 annual meeting of shareholders. Mr. DeRoberts' election will be effective February 16, 2015. On January 27, 2015, the board of directors of Park National Bank also elected Mr. DeRoberts as a director, effective February 16, 2015. Mr. DeRoberts is a partner at Gardiner Allen DeRoberts Insurance located in Columbus, Ohio. On January 26, 2015, the Park board of directors also appointed Mr. DeRoberts to serve on the investment committee and the risk committee of the board, effective upon his becoming a director of Park.

Park National Corporation Declares Quarterly Cash Dividend, Payable on March 10, 2015; Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Park National Corporation declared a quarterly cash dividend of $0.94 per common share, payable on March 10, 2015 to common shareholders of record as of February 20, 2015. The company reported earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net interest income of $57,294,000 against $55,900,000 for the same period in the last year. Income before income taxes was $33,040,000 against $22,617,000 for the same period in the last year. Net income was $24,341,000 or $1.58 per basic and diluted share against $17,454,000 or $1.13 per basic and diluted share for the same period in the last year. Book value per common share was $45.39 as at December 31, 2014 against $42.29 as at December 31, 2013. Return on average assets was 1.35% against 1.03% for the same period in the last year. Return on average equity was 13.81% against 10.87% for the same period in the last year. Total interest income was $67,816,000 against $66,066,000 for the same period in the last year. For the year, the company reported net interest income of $225,044,000 against $221,025,000 for the same period in the last year. Income before income taxes was $112,692,000 against $102,358,000 for the same period in the last year. Net income was $84,090,000 or $5.46 per basic and diluted share against $77,227,000 or $5.01 per basic and diluted share for the same period in the last year. Return on average assets was 1.22% against 1.15% for the same period in the last year. Return on average equity was 12.32% against 11.96% for the same period in the last year. Total interest income was $265,143,000 against $262,947,000 for the same period in the last year.

Park National Corporation Prepays Full $35.25 Million Outstanding Aggregate Principal Amount of 10% Subordinated Notes Due December 23, 2019

Park National Corporation prepaid in full the $35.25 million outstanding aggregate principal amount of the 10% subordinated notes due December 23, 2019, plus accrued interest on the 2019 notes in the aggregate amount of $802,917. The 2019 notes were originally issued on December 23, 2009 to 38 purchasers, all of whom were accredited investors. The 2019 note paid interest at the rate of 10% per annum. December 24, 2014 was the earliest repayment date allowable under terms of the note purchase agreement, dated December 23, 2009, under which the 2019 notes were originally issued.

 

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Industry Analysis

PRK

Industry Average

Valuation PRK Industry Range
Price/Earnings 15.3x
Price/Sales 4.2x
Price/Book 1.8x
Price/Cash Flow 15.2x
TEV/Sales NM Not Meaningful
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