Keefe, Bruyette & Woods Cleans Up Capital Structure For Park National
In a report published Friday, Keefe, Bruyette & Woods analyst Damon DelMonte reiterated a Market Perform rating and $78.00 price target on Park National Corporation (NYSE: PRK).
In the report, Keefe, Bruyette & Woods noted, “PRK announced Tuesday afternoon their intentions to prepay ~$35mm of high-cost subordinated debt (10%) with cash in a deal that was completed on December 24, 2014. We view the transaction positively as at first glance it should be about 3-5% accretive to our EPS estimate, while having minimal impact on the company's regulatory capital ratios. Pending a follow-up conversation with management, our estimates are under review.”
Park National closed on Wednesday at $88.88.
Latest Ratings for PRK
Date | Firm | Action | From | To |
---|---|---|---|---|
Jun 2019 | Janney Capital | Initiates Coverage On | Neutral | |
Jan 2016 | Boenning & Scattergood | Initiates Coverage On | Neutral | |
Jul 2015 | Keefe Bruyette & Woods | Maintains | Market Perform |
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Posted-In: Bruyette & Woods Damon DelMonte KeefeAnalyst Color Reiteration Analyst Ratings