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Park National (PRK)

Park National Corp. is a holding company, which engages in the provision of banking and non-banking financial services through its subsidiaries. It operates through the following segments: Park National Bank (PNB), Guardian Financial Services Company (GFSC), and All Other. The PNB segment provides general banking and trust services in Ohio, Kentucky, North Carolina, and South Carolina. The GFSC segment offers consumer finance services in the central Ohio area. The All Other segment consists of Park's operations as parent company, as well as SE Property Holdings LLC, a non-bank subsidiary. The company was founded in 1986 and is headquartered in Newark, OH.

Company profile

Ticker
PRK
Exchange
CEO
David L. Trautman
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Subsidiaries
Park ABQ, LLC • River Park Properties, LLC • X Holdings, LLC • NSCB 2, LLC • Guardian Financial Services Company • SE Property Holdings, LLC • Vision-Park Properties, L.L.C. • Alabama Apartment Holdings, LLC • 87A Orange Beach, LLC • Morningside Holding, LLC ...
IRS number
311179518

PRK stock data

Investment data

Data from SEC filings
Securities sold
Number of investors
Top 50 of 266 long holdings
End of quarter 31 Mar 22
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$186.17M 1.42M 1.43M -1.0
$139.71M 800.12K 815.63K -1.9
$130.67M 423.82K 427.68K -0.9
First Trust Preferred Securiti
$85.55M 4.5M 4.39M +2.3
$67.47M 494.93K 498.98K -0.8
$56.98M 20.49K 21.01K -2.5
$51.84M 244.27K 248.15K -1.6
$50.91M 287.23K 292.18K -1.7
$46.82M 341.32K 348.45K -2.0
$45.22M 382.01K 384.77K -0.7
$40.76M 266.74K 273.51K -2.5
$38.93M 239.1K 257.15K -7.0
$38.78M 174.87K 176.78K -1.1
$35.92M 106.52K 103.67K +2.8
$35.46M 263.55K 263.42K +0.1
$34.06M 727.39K 714.04K +1.9
$33.45M 893.31K 880.28K +1.5
$30.41M 103.67K 105K -1.3
$27.64M 326.33K 328.98K -0.8
$27.37M 163.5K 165.85K -1.4
$27.24M 147.66K 148.59K -0.6
$26.93M 497.75K 414.52K +20.1
$26.89M 653.13K 602.13K +8.5
$26.65M 477.86K 414.87K +15.2
$25.81M 162.86K 156.89K +3.8
$25.34M 33.16K 31.98K +3.7
$24.86M 150.47K 144.86K +3.9
$23.87M 309.24K 269.95K +14.6
$22.98M 173.91K 175.22K -0.8
$22.68M 91.71K 89.64K +2.3
$22.67M 54.57K 54.55K 0
$22.65M 226.51K 256.79K -11.8
$22.41M 187.27K 185.8K +0.8
$22.18M 145.16K 141.09K +2.9
$22.07M 355.88K 357.08K -0.3
$21.66M 418.28K 409.72K +2.1
$21.33M 358.35K 385.46K -7.0
$21.09M 51.43K 49.98K +2.9
$20.32M 107.75K 106.69K +1.0
$19.68M 132.15K 148.75K -11.2
$19.49M 5.98K 5.8K +3.1
$19.35M 191.16K 198.59K -3.7
$18.47M 447.07K 483.4K -7.5
$18.43M 371.78K 410.73K -9.5
$18.29M 8.4K 9.01K -6.8
First Trust Value Line Dividen
$18.19M 430.05K 391.61K +9.8
$17.21M 148.79K 101.3K +46.9
$17.18M 29.84K 29.77K +0.2
$17.12M 207.31K 192.05K +7.9
$17.11M 57.17K 58.47K -2.2
Holdings list only includes long positions. Only includes long positions.

Calendar

3 May 22
26 Jun 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 246.89M 246.89M 246.89M 246.89M 246.89M 246.89M
Cash burn (monthly) (no burn) 58.03M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) n/a 166.77M n/a n/a n/a n/a
Cash remaining n/a 80.12M n/a n/a n/a n/a
Runway (months of cash) n/a 1.4 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
31 Mar 22 Miller Matthew R Common Shares Payment of exercise Dispose F No No 131.38 391.765 51.47K 1,057.984
31 Mar 22 Miller Matthew R Common Shares Option exercise Acquire M No No 0 850 0 1,449.749
31 Mar 22 Miller Matthew R Common Shares Payment of exercise Dispose F No No 131.38 512.751 67.37K 599.749
31 Mar 22 Miller Matthew R Common Shares Grant Acquire A No No 0 1,112.5 0 1,112.5
31 Mar 22 Miller Matthew R PBRSUs Common Shares Grant Acquire A No No 0 1,112.5 0 1,112.5
31 Mar 22 Miller Matthew R PBRSUs Common Shares Option exercise Dispose M No No 0 850 0 0
31 Mar 22 Delawder Dan Common Shares Payment of exercise Dispose F No No 131.38 333.412 43.8K 58,381.184
31 Mar 22 Delawder Dan Common Shares Option exercise Acquire M No No 0 1,062.5 0 58,714.596
31 Mar 22 Delawder Dan Common Shares Payment of exercise Dispose F No No 131.38 523.654 68.8K 57,652.096
31 Mar 22 Delawder Dan Common Shares Grant Acquire A No No 0 1,668.75 0 58,175.75
51.3% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 158 157 +0.6%
Opened positions 18 21 -14.3%
Closed positions 17 11 +54.5%
Increased positions 47 47
Reduced positions 47 44 +6.8%
13F shares Current Prev Q Change
Total value 2.29B 2.36B -2.9%
Total shares 8.34M 8.3M +0.5%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
BLK Blackrock 2.27M $298.86M -0.1%
Vanguard 1.57M $206.32M +1.7%
PRK Park National 1.42M $186.17M -1.0%
STT State Street 561.05K $73.71M +4.3%
Dimensional Fund Advisors 387.91K $50.96M +0.4%
Geode Capital Management 249.36K $32.76M +0.3%
NTRS Northern Trust 189.98K $24.96M -2.8%
BK Bank Of New York Mellon 171.41K $22.52M -0.3%
Charles Schwab Investment Management 137.3K $18.04M +4.0%
PFG Principal Financial Group Inc - Registered Shares 95.4K $12.53M -0.8%
Largest transactions Shares Bought/sold Change
Victory Capital Management 90.69K +26.43K +41.1%
Vanguard 1.57M +25.82K +1.7%
STT State Street 561.05K +23.32K +4.3%
PRK Park National 1.42M -14.6K -1.0%
CWM 400 -13.97K -97.2%
Mariner 0 -10.18K EXIT
Brown Advisory 21.55K -8.78K -28.9%
First Trust Advisors 32.78K +7.79K +31.2%
MS Morgan Stanley 68.46K -6.99K -9.3%
AMAL Amalgamated Bank. 0 -6.81K EXIT

Financial report summary

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Risks
  • Cautionary Statement Regarding Forward-Looking Information
  • The economic impact of COVID-19 or any other pandemic could adversely affect our business, financial condition, liquidity, and results of operations.
  • Changes in economic and political conditions could adversely affect our earnings and capital through declines in deposits, quality of investment securities, loan demand, our borrowers’ ability to repay loans, and the value of the collateral securing our loans.
  • Changes in interest rates could have a material adverse effect on our financial condition, results of operations and cash flows.
  • Changes in the general economic conditions and real estate valuations in our primary market areas could adversely impact results of operations, financial condition and cash flows.
  • The transition away from the London Interbank Offered Rate ("LIBOR") as a reference rate for financial instruments could negatively affect our income and expenses and the value of various financial instruments.
  • We are exposed to operational risk.
  • Failures or material breaches in security of our systems, or those of third-party service providers, may have a material adverse effect on our results of operations and financial condition and the price of our Common Shares.
  • We extend credit to a variety of customers based on certain internal standards and the judgment of our loan officers. Our credit standards and on-going process of credit assessment might not protect us from significant credit losses.
  • Our business and financial results are subject to risks associated with the creditworthiness of our customers and counterparties.
  • Our allowance for credit losses may prove to be insufficient to absorb the expected, lifetime losses in our loan portfolio.
  • We may be required to repurchase loans we have sold or to indemnify loan purchasers under the terms of the sale agreements, which could adversely affect our liquidity, results of operations and financial condition.
  • We operate in a highly competitive environment, in terms of the products and services we offer and the geographic markets in which we conduct business, as well as in our labor markets where we compete for talented employees. Competition could adversely impact our customer acquisition, growth and retention, as well as our credit spreads and product pricing, causing us to lose market share and deposits and revenues.
  • We may elect or be compelled to seek additional capital in the future, but that capital may not be available when it is needed.
  • Our ability to pay dividends on our Common Shares is limited.
  • Legislative or regulatory changes or actions could adversely impact us or the businesses in which we are engaged.
  • Increasing scrutiny and evolving expectations from customers, regulators, investors, and other stakeholders with respect to our environmental, social and governance practices may impose additional costs on us or expose us to new or additional risks.
  • Deposit insurance premiums assessed on Park National Bank may increase and have a negative effect on Park’s results of operations.
  • Changes in accounting standards, policies, estimates or procedures could impact our reported financial condition or results of operations.
  • Our accounting estimates and risk management processes rely on analytical and forecasting models.
  • Future expansion may adversely affect our financial condition and results of operations as well as dilute the interests of our shareholders and negatively affect the price of our Common Shares.
  • Changes in retail distribution strategies and consumer behavior may adversely impact our investments in our financial service office premises and equipment and other assets and may lead to increased expenditures to change our retail distribution channel.
  • We may be a defendant from time to time in a variety of litigation and other actions, which could have a material adverse effect on our financial condition, results of operations and cash flows.
  • A default by another larger financial institution could adversely affect financial markets generally.
  • Changes in tax laws could adversely affect our performance.
  • Adverse changes in the financial markets may adversely impact our results of operations.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
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