Park Stock Hits New 52-Week High (PRK)

NEW YORK ( TheStreet) -- Park National Corporation (AMEX: PRK) hit a new 52-week high Wednesday as it is currently trading at $69.98, above its previous 52-week high of $69.92 with 5,819 shares traded as of 10:33 a.m. ET. Average volume has been 47,000 shares over the past 30 days.

Park has a market cap of $1.06 billion and is part of the financial sector and banking industry. Shares are up 7.5% year to date as of the close of trading on Tuesday.

Park National Corporation operates as a bank holding company that engages in the commercial banking and trust business. It accepts deposits for demand, savings, and time accounts, as well as services these accounts. The company has a P/E ratio of 15.9, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Park as a buy. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Park Ratings Report.

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