Park National Co. (NYSE:PRK) Plans $1.06 Quarterly Dividend

Park National Co. (NYSE:PRKGet Free Report) announced a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Investors of record on Friday, May 17th will be paid a dividend of 1.06 per share on Monday, June 10th. This represents a $4.24 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, May 16th.

Park National has increased its dividend by an average of 1.0% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Park National has a dividend payout ratio of 54.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Park National to earn $7.76 per share next year, which means the company should continue to be able to cover its $4.24 annual dividend with an expected future payout ratio of 54.6%.

Park National Stock Performance

Shares of PRK opened at $139.27 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. Park National has a 1 year low of $90.28 and a 1 year high of $140.45. The firm has a fifty day moving average of $132.05 and a 200-day moving average of $126.86. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 16.48 and a beta of 0.70.

Park National (NYSE:PRKGet Free Report) last posted its earnings results on Friday, April 19th. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.85 by $0.30. The firm had revenue of $121.82 million during the quarter, compared to analysts’ expectations of $118.29 million. Park National had a net margin of 22.03% and a return on equity of 12.13%. As a group, equities analysts anticipate that Park National will post 7.92 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on PRK shares. StockNews.com downgraded Park National from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Piper Sandler assumed coverage on shares of Park National in a research note on Friday, February 23rd. They set a “neutral” rating and a $130.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $130.00 target price (up previously from $125.00) on shares of Park National in a research report on Wednesday, April 24th.

View Our Latest Stock Report on Park National

Park National Company Profile

(Get Free Report)

Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in small and medium population areas. The company offers deposits for demand, savings, and time accounts; trust and wealth management services; cash management services; safe deposit operations; electronic funds transfers; Internet and mobile banking solutions with bill pay service; credit cards; and various additional banking-related services.

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Dividend History for Park National (NYSE:PRK)

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