Park National Co. (PRK) To Go Ex-Dividend on November 15th

Park National Co. (NYSE:PRK) announced a quarterly dividend on Monday, October 28th,NASDAQ Dividends reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.50 per share on Tuesday, December 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, November 15th.

Park National has raised its dividend by an average of 1.0% annually over the last three years. Park National has a dividend payout ratio of 48.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Park National to earn $8.82 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 48.1%.

Park National Stock Down 1.4 %

Shares of Park National stock opened at $195.20 on Wednesday. The stock has a 50-day simple moving average of $171.85 and a 200-day simple moving average of $157.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. Park National has a 52-week low of $103.26 and a 52-week high of $207.51. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 22.55 and a beta of 0.70.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Park National from a “hold” rating to a “sell” rating in a research report on Friday, August 23rd.

About Park National

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.