Park Reaches New 52-Week High (PRK)

NEW YORK ( TheStreet) -- Park National Corporation (AMEX: PRK) hit a new 52-week high Thursday as it is currently trading at $71.82, above its previous 52-week high of $71.32 with 23,966 shares traded as of 11:09 a.m. ET. Average volume has been 46,700 shares over the past 30 days.

Park has a market cap of $1.08 billion and is part of the financial sector and banking industry. Shares are up 7.9% year to date as of the close of trading on Wednesday.

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 16, below the average banking industry P/E ratio of 16.2 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, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Park Ratings Report.

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