NEWARK, Ohio (AP) — Park National Corp. (PRK) on Monday reported fourth-quarter net income of $45.2 million.
The Newark, Ohio-based bank said it had earnings of $2.75 per share. Earnings, adjusted for non-recurring gains, were $2.73 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.02 per share.
The financial services holding company posted revenue of $127.5 million in the period. Its revenue net of interest expense was $122 million, also beating Street forecasts. Three analysts surveyed by Zacks expected $115.6 million.
For the year, the company reported profit of $127.9 million, or $7.80 per share. Revenue was reported as $453.3 million.
Park National shares have risen almost 7% since the beginning of the year. In the final minutes of trading on Monday, shares hit $112.26, a rise of 12% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PRK at https://www.zacks.com/ap/PRK
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