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Park National Co. (NYSEMKT:PRK) to Issue Quarterly Dividend of $0.94

Park National Co. (NYSEMKT:PRK) declared a quarterly dividend on Tuesday, July 25th, Wall Street Journal reports. Stockholders of record on Friday, August 18th will be given a dividend of 0.94 per share by the financial services provider on Friday, September 8th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Wednesday, August 16th.

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Park National (PRK) opened at 100.07 on Tuesday. The stock’s 50 day moving average is $101.37 and its 200-day moving average is $104.66. The company has a market capitalization of $1.53 billion, a P/E ratio of 17.77 and a beta of 0.85. Park National has a 52-week low of $90.10 and a 52-week high of $122.88.

Park National (NYSEMKT:PRK) last announced its quarterly earnings results on Monday, July 24th. The financial services provider reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by $0.17. Park National had a return on equity of 10.94% and a net margin of 26.51%. The company had revenue of $79.03 million during the quarter, compared to the consensus estimate of $81.39 million. Analysts predict that Park National will post $5.50 EPS for the current fiscal year.

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In other Park National news, Director Leon Zazworsky bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was bought at an average cost of $98.92 per share, for a total transaction of $197,840.00. Following the completion of the transaction, the director now owns 5,197 shares of the company’s stock, valued at approximately $514,087.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

PRK has been the subject of a number of research analyst reports. BidaskClub lowered shares of Park National from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Zacks Investment Research lowered shares of Park National from a “hold” rating to a “sell” rating in a research note on Friday, July 28th.

About Park National

Park National Corporation (Park) is a financial holding company. Park’s principal business consists of owning and supervising its subsidiaries. Park’s banking operations are conducted through The Park National Bank (Park National Bank). Its segments include Park National Bank, Guardian Financial Services Company (Guardian Finance) and SE Property Holdings, LLC (SEPH).