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

Park National Co. (NYSE:PRK - Get 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 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Thursday, May 16th.

Park National has increased its dividend payment by an average of 1.0% annually over the last three years and has raised its dividend every year for the last 7 years. Park National has a payout ratio of 54.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Park National to earn $7.75 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 54.7%.

Park National Stock Up 1.1 %

NYSE PRK traded up $1.42 during trading hours on Tuesday, reaching $135.31. 59,420 shares of the company's stock were exchanged, compared to its average volume of 45,028. The company's 50-day moving average is $129.75 and its two-hundred day moving average is $122.68. Park National has a one year low of $90.28 and a one year high of $137.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 17.13 and a beta of 0.70.

Park National (NYSE:PRK - Get Free Report) last posted its earnings results on Monday, January 22nd. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.91 by $0.09. Park National had a return on equity of 12.28% and a net margin of 22.03%. The business had revenue of $140.73 million during the quarter, compared to analysts' expectations of $119.14 million. On average, analysts forecast that Park National will post 7.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler assumed coverage on Park National in a research note on Friday, February 23rd. They set a "neutral" rating and a $130.00 target price for the company. StockNews.com raised Park National from a "sell" rating to a "hold" rating in a research note on Monday.

Park National Company Profile

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.