Park National Co. (NYSEAMERICAN:PRK) announced a dividend on Monday, July 22nd, Fidelity reports. Shareholders of record on Friday, August 16th will be paid a dividend of 1.01 per share by the financial services provider on Tuesday, September 10th. The ex-dividend date of this dividend is Thursday, August 15th.
Park National has raised its dividend payment by an average of 0.5% annually over the last three years. Park National has a dividend payout ratio of 56.5% indicating that its dividend is sufficiently covered by earnings.
NYSEAMERICAN:PRK traded up $0.90 during trading hours on Tuesday, hitting $91.46. 9,197 shares of the stock traded hands, compared to its average volume of 37,184. Park National has a fifty-two week low of $79.27 and a fifty-two week high of $112.88.
A number of equities analysts have recently weighed in on the stock. Boenning Scattergood reaffirmed a “hold” rating on shares of Park National in a research note on Monday, April 22nd. Zacks Investment Research downgraded shares of Park National from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Finally, Janney Montgomery Scott assumed coverage on shares of Park National in a research note on Monday, June 17th. They issued a “neutral” rating and a $106.00 price target on the stock.
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 Ohio and Northern Kentucky. It 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 for individual customers.
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