Overview

* Park National ( PRK ) Q2 net income rises 22.2% to $48.1 mln

* EPS of $2.97 beats analyst expectations, per LSEG data

* Pre-tax profit exceeds estimates, driven by margin expansion

Result Drivers

* DISCIPLINED EXPENSE CONTROL - Park attributes 21% EPS increase to disciplined expense control, per President Matthew Miller

* MARGIN EXPANSION - Continued margin expansion contributed to Park's improved earnings

* SOLID LOAN GROWTH - Park's loan growth of 3.9% over 12 months supported results

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS Beat $2.97 $2.45 (4

Analysts

)

Q2 Net $48.12

Income mln

Q2 Net $108.99

Interest mln

Income

Q2 Beat $59.35 $48.10

Pretax mln mln (3

Profit Analysts

)

Q2 Basic $2.98

EPS

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy."

* Wall Street's median 12-month price target for Park National Corp ( PRK ) is $173.00, about 4.3% above its July 25 closing price of $165.57

* The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)