Park National Co. Declares Quarterly Dividend of $1.07 (NYSE:PRK)

Park National Co. (NYSE:PRK - Get Free Report) declared a quarterly dividend on Monday, April 28th, Wall Street Journal reports. Stockholders of record on Friday, May 16th will be paid a dividend of 1.07 per share on Tuesday, June 10th. This represents a $4.28 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, May 16th.

Park National has increased its dividend by an average of 1.0% annually over the last three years. Park National has a payout ratio of 43.2% meaning its dividend is sufficiently covered by earnings. 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 1.2 %

NYSE PRK traded up $1.78 during trading on Friday, hitting $156.06. The stock had a trading volume of 3,064 shares, compared to its average volume of 56,846. Park National has a twelve month low of $131.93 and a twelve month high of $207.99. The firm has a 50 day moving average price of $151.84 and a 200 day moving average price of $168.79. The company has a market capitalization of $2.52 billion, a PE ratio of 16.76 and a beta of 0.72. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Piper Sandler began coverage on Park National in a research report on Thursday, February 20th. They issued a "neutral" rating and a $185.50 price target on the stock. Keefe, Bruyette & Woods raised their target price on shares of Park National from $167.00 to $170.00 and gave the company a "market perform" rating in a report on Wednesday.

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.