Park National Co. (PRK) To Go Ex-Dividend on August 21st

Park National Co. (NYSE:PRK) declared a quarterly dividend on Monday, July 27th. Stockholders of record on Friday, August 21st will be paid 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 2.2%. The ex-dividend date of this dividend is Friday, August 21st.

Park National has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 8 years. Park National has a dividend payout ratio of 44.4% 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 $4.40 annual dividend with an expected future payout ratio of 48.7%.

Park National Trading Down 0.5%

PRK opened at $204.40 on Wednesday. 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 cap of $3.69 billion, a price-to-earnings ratio of 21.95 and a beta of 0.69. Park National has a 12 month low of $149.06 and a 12 month high of $215.00. The stock has a fifty day moving average price of $190.50 and a 200-day moving average price of $176.08.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new stake in Park National during the 2nd quarter worth $373,000. Hamilton Capital LLC acquired a new stake in shares of Park National in the second quarter valued at about $1,028,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Park National in the second quarter valued at about $30,000. Capstone Investment Advisors LLC purchased a new position in shares of Park National in the second quarter worth about $653,000. Finally, Corient Private Wealth LP purchased a new position in shares of Park National in the second quarter worth about $3,398,000. 62.65% of the stock is 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.