Park National Co. (PRK) Sees Large Increase in Short Interest

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Park National Co. (NYSEAMERICAN:PRK) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 412,010 shares, an increase of 16.2% from the December 14th total of 354,588 shares. Based on an average daily trading volume, of 45,276 shares, the days-to-cover ratio is currently 9.1 days. Approximately 2.7% of the shares of the stock are short sold.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Park National Corp OH lifted its holdings in shares of Park National by 1.3% during the fourth quarter. Park National Corp OH now owns 1,701,658 shares of the financial services provider’s stock valued at $144,555,000 after purchasing an additional 21,661 shares during the last quarter. Vanguard Group Inc lifted its stake in Park National by 3.2% in the 3rd quarter. Vanguard Group Inc now owns 1,164,899 shares of the financial services provider’s stock worth $122,966,000 after acquiring an additional 35,854 shares in the last quarter. Vanguard Group Inc. lifted its stake in Park National by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,164,899 shares of the financial services provider’s stock worth $122,966,000 after acquiring an additional 35,854 shares in the last quarter. BlackRock Inc. lifted its stake in Park National by 4.3% in the 3rd quarter. BlackRock Inc. now owns 941,512 shares of the financial services provider’s stock worth $99,386,000 after acquiring an additional 39,197 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Park National by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 357,518 shares of the financial services provider’s stock worth $39,835,000 after acquiring an additional 32,570 shares in the last quarter.

Shares of NYSEAMERICAN PRK opened at $90.00 on Friday. Park National has a 12 month low of $79.27 and a 12 month high of $119.00.

Park National (NYSEAMERICAN:PRK) last announced its earnings results on Monday, October 22nd. The financial services provider reported $1.56 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.14). The firm had revenue of $91.74 million during the quarter, compared to analyst estimates of $90.46 million.

Several analysts have recently weighed in on the company. Boenning Scattergood restated a “hold” rating on shares of Park National in a report on Wednesday, October 24th. Zacks Investment Research lowered Park National from a “buy” rating to a “hold” rating in a report on Wednesday, December 26th.

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Park National Company Profile

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 An Exchange-Traded Fund (ETF)?

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