Park National Corporation Beats Estimates on Solid 2Q Results (PRK)

Park National Corporation (PRK) reported 2Q10 operating EPS of $1.14, which beat out KBW estimates of $1.01 and street consensus estimates of $1.00. These operating results don’t include $3.5 million in 2Q security gains ($0.16/share). Keefe, Bruyette & Woods believes that solid 2Q results are due to stronger than expected spread income. Analysts at KBW raised 2010 earnings estimates for PRK after the company released 2Q results. KBW set its target price at $68.00 and has given PRK a “Market Perform” rating. PRK stock is currently priced at $62.84. Learn how to find the best stocks to trade each day in our 70 page E-Book and 90 minute online video for free.