Park National Co. to Issue Quarterly Dividend of $1.10 (NYSE:PRK)

Park National Co. (NYSE:PRK) declared a quarterly dividend on Monday, July 27th. Shareholders of record on Friday, August 21st will be given a dividend of 1.10 per share on Thursday, September 10th. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, August 21st.

Park National has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Park National has a payout ratio of 44.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Park National to earn $9.03 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 48.7%.

Park National Stock Up 0.4%

PRK opened at $189.35 on Tuesday. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 20.34 and a beta of 0.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. The firm’s fifty day moving average is $179.06 and its 200 day moving average is $170.89. Park National has a fifty-two week low of $149.06 and a fifty-two week high of $192.77.

Institutional Investors Weigh In On Park National

A number of hedge funds have recently bought and sold shares of the business. Tudor Investment Corp ET AL raised its position in shares of Park National by 51.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 32,285 shares of the company’s stock valued at $5,247,000 after buying an additional 10,935 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Park National by 249.8% in the 4th quarter. SG Americas Securities LLC now owns 6,299 shares of the company’s stock valued at $959,000 after acquiring an additional 4,498 shares during the last quarter. UBS Group AG grew its position in Park National by 15.7% in the fourth quarter. UBS Group AG now owns 64,583 shares of the company’s stock worth $9,828,000 after acquiring an additional 8,777 shares in the last quarter. Principal Financial Group Inc. grew its position in Park National by 14.5% in the first quarter. Principal Financial Group Inc. now owns 78,087 shares of the company’s stock worth $12,763,000 after acquiring an additional 9,865 shares in the last quarter. Finally, Park National Corp OH increased its stake in Park National by 9.8% during the first quarter. Park National Corp OH now owns 1,155,964 shares of the company’s stock worth $188,942,000 after acquiring an additional 103,142 shares during the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.

About Park National

Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company’s main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.

Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.