AMEX:PRK

Stock Analysis Report

Executive Summary

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.

Snowflake

Fundamentals

Excellent balance sheet established dividend payer.


Similar Companies

Share Price & News

How has Park National's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.4%

PRK

1.7%

US Banks

1.3%

US Market


1 Year Return

-3.8%

PRK

0.3%

US Banks

5.9%

US Market

Return vs Industry: PRK underperformed the US Banks industry which returned 0.3% over the past year.

Return vs Market: PRK underperformed the US Market which returned 5.9% over the past year.


Shareholder returns

PRKIndustryMarket
7 Day1.4%1.7%1.3%
30 Day-5.0%-2.4%-1.9%
90 Day-2.1%1.0%-1.8%
1 Year0.5%-3.8%3.2%0.3%8.3%5.9%
3 Year13.5%0.9%52.1%41.7%45.6%36.2%
5 Year50.1%22.4%69.8%51.4%66.1%47.9%

Price Volatility Vs. Market

How volatile is Park National's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Park National undervalued compared to its fair value and its price relative to the market?

6.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: PRK ($94.93) is trading below our estimate of fair value ($101.44)

Significantly Undervalued: PRK is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: PRK is poor value based on its PE Ratio (15.3x) compared to the Banks industry average (12.5x).

PE vs Market: PRK is good value based on its PE Ratio (15.3x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: PRK is poor value based on its PEG Ratio (1.4x)


Price to Book Ratio

PB vs Industry: PRK is overvalued based on its PB Ratio (1.7x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Park National forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

11.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PRK's forecast earnings growth (11% per year) is above the savings rate (2.7%).

Earnings vs Market: PRK's earnings (11% per year) are forecast to grow slower than the US market (14.4% per year).

High Growth Earnings: PRK's earnings are forecast to grow, but not significantly.

Revenue vs Market: PRK's revenue (5.6% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: PRK's revenue (5.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if PRK's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Park National performed over the past 5 years?

6.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: PRK's earnings have grown by 6.1% per year over the past 5 years.

Accelerating Growth: PRK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PRK had negative earnings growth (-5.4%) over the past year, making it difficult to compare to the Banks industry average (31.8%).


Return on Equity

High ROE: PRK's Return on Equity (10.6%) is considered low.


Return on Assets

ROA vs Industry: PRK has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate PRK's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Park National's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: PRK has a low level of unsold assets or inventory.

Debt Coverage by Assets: PRK's debt is not covered by short term assets (assets are 0.7x debt).


Financial Institutions Analysis

Asset Level: PRK's level of assets compared to its equity is low.

Allowance for Bad Loans: PRK has a low allowance for bad loans.

Low Risk Liabilities: PRK's liabilities are made up of primarily low risk sources of funding.

Loan Level: PRK has an acceptable proportion of non-loan assets held.

Low Risk Deposits: PRK's loans are broadly funded by customer deposits.

Level of Bad Loans: PRK has an appropriate level of bad loans (1.36%)


Next Steps

Dividend

What is Park National's current dividend yield, its reliability and sustainability?

4.26%

Current Dividend Yield


Dividend Yield vs Market

company4.3%marketbottom25%1.5%markettop25%3.8%industryaverage3.1%forecastin3Years4.6%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: PRK's dividend (4.26%) is higher than the bottom 25% of dividend payers in the US market (1.47%).

High Dividend: PRK's dividend (4.26%) is in the top 25% of dividend payers in the US market (3.77%)

Stable Dividend: PRK's dividends per share have been stable in the past 10 years.

Growing Dividend: PRK's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (63.5%), PRK's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Park National's salary, the management and board of directors tenure and is there insider trading?

5.8yrs

Average management tenure


CEO

David Trautman (57yo)

5.8yrs

Tenure

US$1,807,467

Compensation

Mr. David L. Trautman has been the Chief Executive Officer of Park National Corp. and its subsidiary Park National Bank since January 1, 2014. Education: Bachelor of Arts in Economics - Duke Universit ...


CEO Compensation Analysis

Compensation vs. Market: David's total compensation ($USD1.81M) is about average for companies of similar size in the US market ($USD4.07M).

Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.


Management Age and Tenure

5.8yrs

Average Tenure

53yo

Average Age

Experienced Management: PRK's management team is seasoned and experienced (5.8 years average tenure).


Board Age and Tenure

6.5yrs

Average Tenure

61yo

Average Age

Experienced Board: PRK's board of directors are considered experienced (6.5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$107,38619 Feb 19
Timothy McLain
EntityIndividual
Shares1,100
Max PriceUS$97.64

Ownership Breakdown


Management Team

  • Phillip Leitnaker (90yo)

    Member of Advisory Board of Fairfield National Division

    • Tenure: 0yrs
  • David Trautman (57yo)

    CEO & Chairman of the Board

    • Tenure: 5.8yrs
    • Compensation: US$1.81m
  • Brady Burt (47yo)

    CFO, Secretary & Treasurer

    • Tenure: 6.8yrs
    • Compensation: US$790.27k
  • Laura Lewis (59yo)

    Senior VP

    • Tenure: 0yrs
  • Jeffrey Wilson (53yo)

    Chief Administrative Officer

    • Tenure: 7.1yrs
  • Matt Miller (40yo)

    President & Director

    • Tenure: 0.4yrs
  • Edds Herreman (36yo)

    Chief Accounting Officer

    • Tenure: 2.5yrs
  • Cynthia Crane

    Vice President

    • Tenure: 0yrs
  • Jerry Nethers

    Vice President

    • Tenure: 0yrs
  • Stu Parsons

    Senior Vice President

    • Tenure: 0yrs

Board Members

  • Dan DeLawder (70yo)

    Director

    • Tenure: 14.8yrs
    • Compensation: US$1.28m
  • David Trautman (57yo)

    CEO & Chairman of the Board

    • Tenure: 5.8yrs
    • Compensation: US$1.81m
  • Donna Alvarado (70yo)

    Independent Director

    • Tenure: 6.5yrs
    • Compensation: US$111.10k
  • Lee Zazworsky (70yo)

    Lead Independent Director

    • Tenure: 7.8yrs
    • Compensation: US$137.22k
  • F. Englefield (64yo)

    Independent Director

    • Tenure: 14.8yrs
    • Compensation: US$109.59k
  • Jim DeRoberts (62yo)

    Independent Director

    • Tenure: 4.7yrs
    • Compensation: US$77.87k
  • Steve Kambeitz (60yo)

    Independent Director

    • Tenure: 9.8yrs
    • Compensation: US$98.07k
  • Matt Miller (40yo)

    President & Director

    • Tenure: 0.4yrs
  • Robert O’Neill (56yo)

    Independent Director

    • Tenure: 6.5yrs
    • Compensation: US$111.54k
  • Julie Sloat (49yo)

    Independent Director

    • Tenure: 4.3yrs
    • Compensation: US$80.57k

Company Information

Park National Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Park National Corporation
  • Ticker: PRK
  • Exchange: AMEX
  • Founded: 1908
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$1.558b
  • Shares outstanding: 16.41m
  • Website: https://www.parknationalcorp.com

Number of Employees


Location

  • Park National Corporation
  • 50 North Third Street
  • PO Box 3500
  • Newark
  • Ohio
  • 43058
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PRKAMEX (NYSE MKT LLC)YesCommon StockUSUSDAug 1990

Biography

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, savin ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 23:38
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.