Overview

• Park National Q3 net income rises 23.4% yr/yr to $47.2 mln

• EPS for Q3 increases to $2.92 from $2.35 yr/yr

• Company declares special one-time dividend of $1.25 per share

Outlook

• Park National did not provide specific financial guidance for future quarters in the press release

Result Drivers

• EXPENSE MANAGEMENT - Park attributes its improved financial performance to disciplined expense management and relationship-driven banking

• LOAN AND DEPOSIT GROWTH - Moderate growth in total loans and deposits contributed to Park's success

• NET INTEREST INCOME - A 9.8% increase in net interest income supported by a stable net interest margin

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for Park National Corp is $185.00, about 13.8% above its October 24 closing price of $159.54

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nGNX7qSMhd

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)