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PRK - Park National Corporation: Good Growth Prospects But A Bit Expensive
Park National Corporation
Park National Corporation's (PRK) earnings improved substantially in the third quarter compared to the second quarter of 2019, partly due to benefits from the completion of its latest acquisition. Going forward, low loan growth is expected to increase earnings.
Slow Loan Growth Expected for Next Year
PRK's loan book is concentrated in commercial loans and commercial real estate, which together make up 43% of total loans. As a result, the overall economic growth of Ohio, the state PRK majorly operates in, is a significant driver of credit demand for the company. Ohio's GDP