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

Park National Co. (NYSE:PRK) announced a quarterly dividend on Monday, January 26th. Investors of record on Friday, February 20th will be given a dividend of 1.10 per share on Tuesday, March 10th. This represents a c) dividend on an annualized basis 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%annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Park National has a dividend 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 Stock Performance

NYSE:PRK traded up $4.11 on Tuesday, hitting $165.45. The company’s stock had a trading volume of 6,730 shares, compared to its average volume of 52,540. Park National has a one year low of $137.97 and a one year high of $179.48. The stock has a fifty day moving average of $158.34 and a two-hundred day moving average of $161.91. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.66 billion, a P/E ratio of 17.77 and a beta of 0.73.

Institutional Investors Weigh In On Park National

A number of large investors have recently modified their holdings of the business. State of Alaska Department of Revenue boosted its position in shares of Park National by 1.6% during the 4th quarter. State of Alaska Department of Revenue now owns 7,997 shares of the company’s stock valued at $1,216,000 after acquiring an additional 127 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Park National in the fourth quarter valued at approximately $76,000. Mechanics Financial Corp boosted its holdings in Park National by 164.7% in the fourth quarter. Mechanics Financial Corp now owns 728 shares of the company’s stock valued at $111,000 after purchasing an additional 453 shares during the period. Cypress Wealth Services LLC acquired a new position in shares of Park National during the fourth quarter worth about $799,000. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Park National by 16.8% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 7,418 shares of the company’s stock valued at $1,129,000 after purchasing an additional 1,066 shares in 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.