Park National Corp Stock Research

Market Summary

USD98.75-2.63

Market Closed

-2.59%

PRK Alerts

1 major insider buys recently.
Big jump in Revenue (Y/Y)

PRK Stock Price

PRK RSI Chart

PRK Valuation

Market Cap

1.8B

Price/Earnings (Trailing)

12.13

Price/Sales (Trailing)

4.76

EV/EBITDA

3.01

Price/Free Cashflow

14.18

PRK Price/Sales (Trailing)

PRK Profitability

EBT Margin

48.97%

Return on Equity

13.87%

Return on Assets

1.51%

Free Cashflow Yield

7.05%

PRK Fundamentals

PRK Revenue

Revenue (TTM)

408.0M

Revenue Y/Y

36.67%

Revenue Q/Q

1.92%

PRK Earnings

Earnings (TTM)

143.2M

Earnings Y/Y

-13.23%

Earnings Q/Q

1.96%

Price Action

52 Week Range

98.68151.59

(Low)(High)

Last 7 days

-3.0%

Last 30 days

-6.4%

Last 90 days

-20.7%

Trailing 12 Months

-15.4%

PRK Financial Health

PRK Investor Care

Dividend Yield

4.23%

Dividend/Share (TTM)

4.17

Buy Backs (1Y)

0.24%

Diluted EPS (TTM)

8.75

Peers (Alternatives to Park National)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
JPM	414.1B	128.7B	-0.56%	6.59%	10.99	3.22	5.79%	-0.71%
BAC	221.6B	98.0B	-3.48%	-21.76%	7.74	2.26	9.45%	-7.66%
WFC	156.8B	63.2B	3.09%	-9.51%	11.89	2.9	58.68%	-29.54%
PNC	51.3B	22.0B	-8.75%	-30.78%	8.39	2.43	11.93%	6.78%
USB	44.9B	21.5B	-10.56%	-40.33%	7.52	2.09	58.44%	-17.60%
FHN	9.9B	3.1B	-38.40%	-51.83%	11.04	3.7	46.06%	-0.93%
MID-CAP
CFR	6.6B	1.8B	-5.40%	-16.91%	10.07	3.77	72.29%	54.33%
BOKF	6.2B	1.6B	-0.12%	-1.10%	10.04	3.83	39.57%	16.01%
ZION	4.0B	3.1B	3.77%	-48.14%	4.45	1.32	35.84%	-10.10%
PNFP	3.7B	1.4B	-7.06%	-37.74%	6.63	2.71	33.23%	6.34%
SMALL-CAP
PRK	1.8B	408.0M	-6.41%	-15.37%	12.13	4.76	19.36%	-4.52%
TRMK	1.3B	637.0M	-9.00%	-25.21%	13.71	2	45.85%	-25.39%
WABC	1.0B	247.6M	-3.26%	-34.25%	7.21	4.07	41.59%	57.20%
HOPE	961.3M	809.6M	-8.13%	-41.35%	4.89	1.19	41.27%	-11.26%

Financials for Park National

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	7.9%	408	378	357	342	342
EBITDA	-0.1%	535	536	518	524	-
EBITDA Margin	-13.3%	1.41*	1.63*	1.65*	1.53*	-
Earnings Before Taxes	-2.6%	180	185	177	183	-
EBT Margin	-13.3%	0.49*	0.56*	0.57*	0.54*	-
Interest Expenses	3.2%	347	336	327	327	-
Net Income	-3.5%	143	148	152	145	150
Net Income Margin	-15.2%	0.39*	0.46*	0.46*	0.44*	-
Free Cahsflow	2.1%	127	124	124	128	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	0.0%	9,857	9,855	9,855	9,827	9,576
Cash Equivalents	38.0%	262	190	207	246	247
Net PPE	-1.1%	81.00	82.00	85.00	86.00	87.00
Goodwill	0%	160	160	160	160	160
Liabilities	-0.1%	8,775	8,786	8,819	8,777	8,500
. Short Term Borrowings	-24.3%	172	227	189	172	206
Shareholder's Equity	1.2%	1,082	1,069	1,036	1,050	1,076
Retained Earnings	1.8%	863	847	839	814	797
Shares Outstanding	0.0%	16.00	16.00	16.00	-	-

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-2.9%	131	135	134	134	140
Share Based Compensation	4.7%	8.00	7.00	8.00	8.00	8.00
Cashflow From Investing	29.4%	-285	-403	-629	-546	-376
Cashflow From Financing	-29.3%	169	239	-175	-148	-459
Buy Backs	Infinity%	31.00	0.00	0.00	16.00	-

Risks for PRK

What is the probability of a big loss on PRK?

55%

Probability that Park National stock will be more than 20% underwater in next one year

19.6%

Probability that Park National stock will be more than 30% underwater in next one year.

Probability that Park National stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does PRK drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Park National was unfortunately bought at previous high price.

Drawdowns

Returns for PRK

Cumulative Returns on PRK

8.2%

10-Year Cumulative Returns

4.9%

7-Year Cumulative Returns

1.2%

5-Year Cumulative Returns

14.1%

3-Year Cumulative Returns

What are the long-term rolling returns for PRK?

FIve years rolling returns for Park National.

Annualized Returns

Which funds bought or sold PRK recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-26	ProShare Advisors LLC	reduced	-8.11	-72,121	247,100	-%
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-3.84	-1,573,620	6,714,380	-%
2023-05-18	JPMORGAN CHASE & CO	added	93.27	1,338,000	3,467,000	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-5.07	-389,000	1,553,000	-%
2023-05-17	Thrivent Financial for Lutherans	reduced	-0.24	-334,000	1,756,000	-%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	added	86.04	331,078	914,768	-%
2023-05-16	Baker Avenue Asset Management, LP	unchanged	-	-111	593	-%
2023-05-16	Rockefeller Capital Management L.P.	sold off	-100	-	-	-%
2023-05-16	Ancora Advisors, LLC	unchanged	-	-6,429	35,571	-%
2023-05-16	JANE STREET GROUP, LLC	new	-	438,946	438,946	-%

Latest Funds Activity

Are funds buying PRK calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own PRK

No. of Funds

Park National News

Schedule 13G FIlings of Park National

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 10, 2023	vanguard group inc	10.01%	1,628,140	SC 13G/A
Feb 09, 2023	vanguard group inc	9.97%	1,621,613	SC 13G/A
Feb 06, 2023	park national bank /oh	9.6%	1,586,503	SC 13G/A
Jan 23, 2023	blackrock inc.	14.4%	2,338,624	SC 13G/A
Feb 10, 2022	vanguard group inc	9.52%	1,544,585	SC 13G/A
Jan 31, 2022	park national bank /oh	10.2%	1,586,523	SC 13G/A
Jan 27, 2022	blackrock inc.	14.0%	2,276,568	SC 13G/A
Jan 25, 2022	blackrock inc.	14.0%	2,276,568	SC 13G/A
Feb 10, 2021	vanguard group inc	8.74%	1,426,435	SC 13G/A
Jan 26, 2021	blackrock inc.	13.5%	2,205,173	SC 13G/A

PRK Fair Value

Show Fair-Value

Recent SEC filings of Park National

View All Filings

Date Filed	Form Type	Document
May 15, 2023	4	Insider Trading
May 04, 2023	4/A	Insider Trading
May 04, 2023	4/A	Insider Trading
May 04, 2023	4/A	Insider Trading
May 04, 2023	4/A	Insider Trading
May 04, 2023	4/A	Insider Trading
May 01, 2023	10-Q	Quarterly Report
Apr 25, 2023	8-K	Current Report
Apr 24, 2023	8-K	Current Report
Apr 21, 2023	8-K	Current Report

Latest Insider Trading transactions for PRK

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-08	DELAWDER DAN	bought	62,712	104	600	-
2023-04-28	Miller Matthew R	sold	-	-	-1,416	president
2023-04-28	Herreman Kelly A	acquired	-	-	375	chief accounting officer
2023-04-28	Miller Matthew R	acquired	-	-	1,416	president
2023-04-28	Herreman Kelly A	sold	-	-	-375	chief accounting officer
2023-04-28	TRAUTMAN DAVID L	acquired	-	-	2,262	chairman of the board & ceo
2023-04-28	TRAUTMAN DAVID L	sold	-	-	-2,262	chairman of the board & ceo
2023-04-28	Burt Brady T	acquired	-	-	1,499	chief financial officer
2023-04-28	Burt Brady T	sold	-	-	-1,499	chief financial officer
2023-04-28	DELAWDER DAN	acquired	-	-	1,792	-

About Park National

David L. Trautman

www.parknationalcorp.com

1680

Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in small and medium population areas. The company 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. It also provides commercial loans, including financing for industrial and commercial properties, financing for equipment, inventory and accounts receivable, acquisition financing, and commercial leasing, as well as for consumer finance companies; commercial real estate loans comprising mortgage loans to developers and owners of commercial real estate; consumer loans, such as automobile loans and leases; consumer finance services; home equity lines of credit; and residential real estate and construction loans, as well as installment loans and commercial loans. In addition, the company offers aircraft financing and asset management services. As of December 31, 2021, it operated 96 financial service offices and a network of 116 automated teller machines in 26 Ohio counties, 1 Kentucky county, 3 North Carolina counties, and 4 South Carolina counties. The company was founded in 1908 and is headquartered in Newark, Ohio.

PRK Income Statement

2023-03-31

Consolidated Condensed Statements Of Income - USD ($)	3 Months Ended
Consolidated Condensed Statements Of Income - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Interest and dividend income:
Interest and fees on loans	$ 91,614,000	$ 72,416,000
Interest and dividends on:
Obligations of U.S. Government, its agencies and other securities	12,979,000	6,130,000
Interest Income, Securities, State and Municipal	2,912,000	2,447,000
Other interest income	3,396,000	153,000
Total interest and dividend income	110,901,000	81,146,000
Interest on deposits:
Demand and savings deposits	14,212,000	351,000
Time deposits	1,347,000	720,000
Interest on borrowings:
Short-term borrowings	824,000	244,000
Long-term debt	2,320,000	2,145,000
Total interest expense	18,703,000	3,460,000
Net interest income	92,198,000	77,686,000
Provision for (recovery of) credit losses	183,000	(4,605,000)
Net interest income after provision for credit losses	92,015,000	82,291,000
Noninterest Income [Abstract]
Debit card fee income	6,457,000	6,126,000
Bank owned life insurance income	1,185,000	1,175,000
ATM Fees	533,000	532,000
Gains (Losses) on Sales of Other Real Estate	(9,000)	0
Real Estate Owned, Valuation Allowance, Valuation Increase	15,000	30,000
Loss (gain) on equity securities, net	(405,000)	2,353,000
Other components of net periodic benefit income	1,893,000	3,027,000
Other	1,165,000	2,723,000
Total other income	24,387,000	31,656,000
Other expense:
Salaries and employee benefits	34,871,000	30,521,000
Employee Benefits and Share-based Compensation	10,816,000	10,499,000
Occupancy expense	3,353,000	3,214,000
Furniture and equipment expense	3,246,000	2,937,000
Data processing fees	8,750,000	7,504,000
Professional fees and services	7,221,000	5,858,000
Marketing	1,319,000	1,317,000
Insurance	1,814,000	1,405,000
Communication	1,037,000	890,000
Excise and Sales Taxes	1,278,000	1,192,000
Amortization of Intangible Assets	327,000	402,000
Other expense	2,471,000	1,634,000
Total other expense	76,503,000	67,373,000
Income before income taxes	39,899,000	46,574,000
Income taxes	6,166,000	7,699,000
Net income	$ 33,733,000	$ 38,875,000
Net income available to common shareholders
Basic	$ 2.08	$ 2.40
Diluted	$ 2.07	$ 2.38
Weighted average common shares outstanding
Basic	16,242,353	16,219,889
Diluted	16,324,823	16,331,031
Quarterly Dividend
Weighted average common shares outstanding
Cash dividends declared	$ 1.05	$ 1.04
Fiduciary and Trust [Member]
Noninterest Income [Abstract]
Revenue from Contract with Customer, Including Assessed Tax	$ 8,615,000	$ 8,797,000
Deposit Account [Member]
Noninterest Income [Abstract]
Revenue from Contract with Customer, Including Assessed Tax	2,241,000	2,074,000
Bank Servicing [Member]
Noninterest Income [Abstract]
Revenue from Contract with Customer, Including Assessed Tax	$ 2,697,000	$ 4,819,000

PRK Balance Sheet

2023-03-31

Consolidated Condensed Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets:
Cash and due from banks	$ 146,155	$ 156,750
Money market instruments	115,764	32,978
Cash and cash equivalents	261,919	189,728
Marketable Securities [Abstract]
Debt Securities, Available-for-sale, Current	1,714,440	1,733,696
Other Investments and Securities, at Cost	85,970	87,091
Total investment securities	1,800,410	1,820,787
Loan balance	7,093,857	7,141,891
Financing Receivable, Allowance for Credit Loss	(85,946)	(85,379)
Net loans	7,007,911	7,056,512
Bank owned life insurance	223,528	220,072
Prepaid assets	157,426	153,579
Goodwill	159,595	159,595
Other intangible assets	5,648	5,975
Premises and equipment, net	81,223	82,126
Affordable housing tax credit investments	58,871	60,968
Other real estate owned	1,468	1,354
Interest Receivable	33,245	34,704
Operating Lease, Right-of-Use Asset	17,150	17,600
Servicing Asset	15,505	15,792
Other	33,082	36,201
Total assets	9,856,981	9,854,993
Liabilities and Shareholders' Equity:
Noninterest bearing	2,922,242	3,074,276
Interest bearing	5,372,202	5,160,439
Total deposits	8,294,444	8,234,715
Short-term borrowings	172,058	227,342
Subordinated debentures and notes	188,785	188,667
Unfunded commitments in affordable housing tax credit investments	26,723	28,132
Operating Lease, Liability	18,651	19,291
Off-Balance Sheet, Credit Loss, Liability	5,329	5,214
Accrued interest payable	1,661	3,486
Other	67,177	78,920
Total liabilities	8,774,828	8,785,767
Shareholders' equity:
Preferred shares (No par value; 200,000 shares authorized; No shares issued)	0	0
Common shares (No par value; 20,000,000 shares authorized; 17,623,104 shares issued at March 31, 2023 and at December 31, 2022)	459,431	462,404
Retained earnings	862,518	847,235
Treasury shares (1,449,037 shares at March 31, 2023 and 1,359,521 shares at December 31, 2022)	(149,763)	(138,019)
Accumulated other comprehensive loss, net of taxes	(90,033)	(102,394)
Total shareholders' equity	1,082,153	1,069,226
Total liabilities and shareholders' equity	$ 9,856,981	$ 9,854,993