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

Park National Co. (NYSE:PRK) declared a quarterly dividend on Monday, January 26th. Shareholders of record on Friday, February 20th will be given a dividend of 1.10 per share on Tuesday, March 10th. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, February 20th.

Park National has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 8 years. Park National has a payout ratio of 43.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Park National to earn $9.03 per share next year, which means the company should continue to be able to cover its $4.28 annual dividend with an expected future payout ratio of 47.4%.

Park National Trading Up 1.3%

Shares of Park National stock traded up $2.10 during trading hours on Tuesday, hitting $163.44. The company’s stock had a trading volume of 14,622 shares, compared to its average volume of 53,212. The company has a market capitalization of $2.63 billion, a PE ratio of 17.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95. The stock has a 50 day moving average of $158.34 and a 200 day moving average of $161.91. Park National has a 12 month low of $137.97 and a 12 month high of $179.48.

Hedge Funds Weigh In On Park National

Large investors have recently modified their holdings of the business. Bank of Montreal Can increased its position in Park National by 2.1% during the second quarter. Bank of Montreal Can now owns 3,072 shares of the company’s stock worth $514,000 after buying an additional 64 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Park National by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 4,312 shares of the company’s stock worth $701,000 after acquiring an additional 68 shares during the period. GAMMA Investing LLC increased its holdings in shares of Park National by 13.4% during the 4th quarter. GAMMA Investing LLC now owns 628 shares of the company’s stock worth $96,000 after acquiring an additional 74 shares during the last quarter. Spreng Capital Management Inc. raised its stake in Park National by 5.5% in the 3rd quarter. Spreng Capital Management Inc. now owns 1,445 shares of the company’s stock valued at $235,000 after acquiring an additional 75 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Park National by 3.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,895 shares of the company’s stock valued at $463,000 after purchasing an additional 87 shares during the last quarter. 62.65% of the stock is currently owned by institutional investors and hedge funds.

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.