Park National (PRK) AI Stock Analysis

• Market Cap: $3.14B
• Dividend Yield: 2.96%
• Average Volume (3M): 70.85K
• Price to Earnings (P/E): 15.6
• Beta (1Y): 0.81
• Revenue Growth: 6.29%
• EPS Growth: 28.28%
• Country: US
• Employees: 1,620
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 2.93
• Shares Outstanding: 18,067,043
• 10 Day Avg. Volume: 80,531
• 30 Day Avg. Volume: 70,846
• PEG Ratio: 0.71
• Price to Book (P/B): 1.81
• Price to Sales (P/S): 3.68
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 0.95
• Enterprise Value/Revenue: 4.46
• Enterprise Value/Gross Profit: 5.43
• Enterprise Value/Ebitda: 12.90
• 1Y Price Target: $183.00
• Price Target Upside: 4.48% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: $178.00 ▲(1.63% Upside)
• Action: Reiterated Date: 02/03/26
• Date: Action: Reiterated 02/03/26

Overall score reflects solid profitability and a conservative balance sheet as the primary positives, tempered by weakening revenue and free-cash-flow trends. Valuation and dividend yield are supportive, and the completed merger adds a favorable strategic catalyst, while technicals are mildly positive but not strong enough to drive a higher score.

Positive Factors

High profitability & ROE

Sustained high net margin and healthy ROE indicate efficient core banking operations and pricing power. This profitability supports internal capital generation, funds dividends and reinvestment, and provides a durable buffer against credit losses and economic cycles over months to years.

Low leverage / strong capital

Very low leverage gives Park durable financial flexibility: it reduces funding and solvency risk, preserves lending capacity during stress, and eases regulatory capital pressures. This structural strength supports opportunistic growth or integration of acquisitions without overextending the balance sheet.

Merger progress & dividend raise

Advancing the First Citizens merger and a raised cash dividend are structural catalysts: the deal can deliver scale, cost synergies and market reach, while the higher dividend signals sustained cash generation and management confidence in long-term franchise economics.

Negative Factors

Declining revenue growth

A meaningful revenue contraction over the trailing period weakens scalability and may reflect slower loan or fee growth. Persisting top-line weakness limits internal reinvestment, pressures margins if funding costs rise, and constrains long-term earnings power absent a clear revenue recovery plan.

Sharp free cash flow deterioration

A steep FCF decline undermines the company's ability to fund dividends, integration costs from acquisitions, and capital needs. Coupled with low operating cash to net income, this signals weaker cash conversion and could force balance sheet adjustments or constrain strategic investments.

Board leadership transition risk

Retirement of a 55-year veteran and former CEO creates governance and succession uncertainty at a critical time. Loss of institutional knowledge can affect oversight of the First Citizens integration and strategic continuity, raising execution risk over the medium term.

Park National Business Overview & Revenue Model

Company Description

Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in small and medium population areas. The company offers deposits for demand, savings, and time accounts; trust and wealth management services; cash management services; safe deposit operations; electronic funds transfers; Internet and mobile banking solutions with bill pay service; credit cards; and various additional banking-related services for individual customers. It also provides commercial loans, including financing for industrial and commercial properties, financing for equipment, inventory and accounts receivable, acquisition financing, and commercial leasing, as well as for consumer finance companies; commercial real estate loans comprising mortgage loans to developers and owners of commercial real estate; consumer loans, such as automobile loans and leases; consumer finance services; home equity lines of credit; and residential real estate and construction loans, as well as installment loans and commercial loans. In addition, the company offers aircraft financing and asset management services. As of December 31, 2021, it operated 96 financial service offices and a network of 116 automated teller machines in 26 Ohio counties, 1 Kentucky county, 3 North Carolina counties, and 4 South Carolina counties. The company was founded in 1908 and is headquartered in Newark, Ohio.

How the Company Makes Money

Park National generates revenue primarily through interest income from loans and investments, as well as non-interest income from fees for various banking services. The company's key revenue streams include interest earned on consumer loans, commercial loans, and mortgages, which are funded by customer deposits. Additionally, PRK earns fees from services such as wealth management, asset management, and transaction services. The bank also benefits from partnerships with local businesses and community organizations, enhancing its customer base and contributing to its overall earnings. The management of non-performing loans and effective cost control further supports the company's profitability.

Park National Financial Statement Overview

Summary

Mixed fundamentals: strong profitability (TTM net margin 30.76%) and healthy ROE (13.71%) with very low leverage (D/E 0.06), but pressured growth with revenue down 13.5% and a sharp TTM free-cash-flow growth decline (‑73%) alongside weaker cash conversion.

Income Statement

The income statement shows a mixed performance. The TTM data indicates a decline in revenue growth rate by 13.5%, which is concerning. However, the company maintains a strong net profit margin of 30.76% in the TTM, indicating good profitability. Historical data shows fluctuating revenue growth, with a peak in 2020. The EBIT and EBITDA margins are relatively stable, suggesting operational efficiency.

Balance Sheet

The balance sheet reflects a stable financial position with a low debt-to-equity ratio of 0.06 in the TTM, indicating low leverage. The return on equity is healthy at 13.71%, showing effective use of equity. The equity ratio is strong, suggesting a solid capital structure. However, the decreasing trend in stockholders' equity over the years could be a potential risk.

Cash Flow

Cash flow analysis reveals challenges, with a significant decline in free cash flow growth by 73% in the TTM. The operating cash flow to net income ratio is low, indicating potential issues in converting income to cash. However, the free cash flow to net income ratio remains strong at 96.37%, suggesting good cash generation relative to net income.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	664.42M	645.55M	564.30M	514.18M	475.80M
Gross Profit	545.70M	506.06M	462.84M	478.44M	471.75M
EBITDA	229.89M	196.92M	167.62M	194.28M	201.50M
Net Income	180.07M	151.42M	126.73M	148.35M	153.94M
Balance Sheet
Total Assets	9.81B	9.81B	9.84B	9.85B	9.56B
Cash, Cash Equivalents and Short-Term Investments	977.71M	1.16B	1.55B	1.92B	1.97B
Total Debt	81.71M	296.59M	425.75M	435.30M	441.33M
Total Liabilities	8.45B	8.56B	8.69B	8.79B	8.45B
Stockholders Equity	1.35B	1.24B	1.15B	1.07B	1.11B
Cash Flow
Free Cash Flow	0.00	169.66M	142.91M	126.92M	143.24M
Operating Cash Flow	0.00	178.85M	150.50M	134.86M	157.33M
Investing Cash Flow	0.00	-19.15M	64.16M	-403.70M	-412.14M
Financing Cash Flow	0.00	-217.40M	-186.12M	239.38M	103.52M

Park National Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 175.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PRK, the sentiment is Positive. The current price of 175.15 is above the 20-day moving average (MA) of 169.06, above the 50-day MA of 162.97, and above the 200-day MA of 160.45, indicating a bullish trend. The MACD of 3.76 indicates Negative momentum. The RSI at 63.62 is Neutral, neither overbought nor oversold. The STOCH value of 44.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PRK.

Park National Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CVBF	73 Outperform	$2.81B	13.61	21.27%	4.00%	-8.43%	3.75%
FBK	72 Outperform	$3.13B	23.90	6.98%	1.34%	10.50%	-6.22%
BOH	71 Outperform	$3.15B	17.08	11.70%	3.99%	3.40%	23.04%
BANC	69 Neutral	$3.11B	17.08	6.50%	2.03%	20.64%	―
PRK	68 Neutral	$3.14B	15.62	13.69%	2.96%	6.29%	28.28%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
SBCF	62 Neutral	$3.29B	21.28	6.33%	2.25%	6.83%	23.44%

Park National Corporate Events

Park National completes all-stock merger with First Citizens

On February 1, 2026, Park National Corporation completed its all‑stock merger with First Citizens Bancshares, Inc., converting each First Citizens share into 0.52 of a Park common share and immediately consolidating First Citizens National Bank into The Park National Bank, which remains the surviving bank. The deal expands Park’s footprint into Tennessee, creates a combined institution with pro forma assets of $12.6 billion, deposits of $10.5 billion and loans of $9.6 billion as of December 31, 2025, and will see First Citizens National Bank operate as a division of Park National Bank until systems conversion is completed later in 2026, with no immediate changes required for customers of either bank. As part of the transaction, former First Citizens chairman and CEO Jeffrey D. Agee joined Park’s board of directors effective February 1, 2026, signed an employment agreement with Park National Bank, and will lead the company’s newly formed Tennessee Region, reinforcing leadership continuity and local-market expertise as Park executes its growth strategy in the state.

The most recent analyst rating on (PRK) stock is a Hold with a $174.00 price target. To see the full list of analyst forecasts on Park National stock, see the PRK Stock Forecast page.

Park National Boosts Dividend Amid Ongoing First Citizens Merger

For 2025, Park National Corporation reported strong earnings growth, with full-year net income rising 18.9% to $180.1 million and fourth-quarter net income increasing 10.4% year-on-year to $42.6 million, driven by higher net interest income from loan growth, improved loan yields and lower interest expense, alongside modest credit costs and stable asset quality. Total loans expanded 3.0% and total deposits grew 1.2% (1.1% including off-balance-sheet balances) during 2025, while the efficiency ratio improved and the allowance for credit losses increased in line with loan growth; on January 26, 2026, the board raised the quarterly cash dividend to $1.10 per share, and the company moved closer to closing its previously announced merger with First Citizens Bancshares, Inc., which is expected to further expand its banking franchise and reinforce its competitive position once completed, following regulatory approvals and shareholder approval on January 21, 2026.

The most recent analyst rating on (PRK) stock is a Hold with a $173.00 price target. To see the full list of analyst forecasts on Park National stock, see the PRK Stock Forecast page.

Park National announces retirement of longtime board leader

On December 29, 2025, Park National Corporation announced that long-serving director C. Daniel DeLawder will retire and not stand for re-election to the boards of Park National Corporation and Park National Bank, with his director term ending immediately before the 2026 Annual Meeting of Shareholders. DeLawder, whose 55-year career at the bank included 15 years as CEO and leadership roles such as Chair of the Executive Committee and Chair of the PNB Wealth Management Committee, will leave a significant leadership vacancy that the Nominating and Corporate Governance Committee plans to address at its next meeting, potentially shaping the company’s future governance and strategic direction.

The most recent analyst rating on (PRK) stock is a Buy with a $177.00 price target. To see the full list of analyst forecasts on Park National stock, see the PRK Stock Forecast page.

Park National Announces Merger with First Citizens

Park National Corporation has announced its intention to merge with First Citizens Bancshares, Inc., a move that is expected to bring strategic gains and cost savings. The company plans to file a Registration Statement with the SEC to facilitate the issuance of shares for the proposed transaction, emphasizing the importance for shareholders and investors to review the relevant documents when available.

The most recent analyst rating on (PRK) stock is a Hold with a $162.00 price target. To see the full list of analyst forecasts on Park National stock, see the PRK Stock Forecast page.