NEWARK, Ohio - Park National (NYSE:PRK) Corporation (NYSE American: PRK), a financial holding company, announced the election of Karen Morrison and Kelly Gratz as directors, effective July 1, 2024. Their induction will expand the board to 16 members, as they also join the board of directors for The Park National Bank, a subsidiary of Park.
Karen Morrison currently serves as president of the OhioHealth Foundation and senior vice president of OhioHealth Corporation, bringing over three decades of experience in community relations, corporate reinvestment, health equity, and government affairs. Morrison's extensive service includes roles on various nonprofit boards and recognition for her contributions to business and community leadership.
Kelly Gratz, CEO of G2O, a company focused on customer experience enhancement through technology and analytics, offers over 35 years of executive leadership across the technology, healthcare, and pharmaceutical sectors. Her past honors and board memberships underline a career dedicated to innovation, integrity, and community engagement.
Both appointees will contribute to Park National's Risk Committee, with Morrison's term concluding at the shareholder meeting in 2026 and Gratz's in 2027. David Trautman, Park's CEO, expressed confidence in the new directors' abilities to aid the company's growth and commitment to its stakeholders.
Park National Corporation, with $9.9 billion in total assets as of March 31, 2024, operates through The Park National Bank and subsidiaries including Scope Aircraft Finance, Guardian Finance Company, and SE Property Holdings, LLC.
InvestingPro Insights
As Park National Corporation (NYSE American: PRK) welcomes new expertise to its board, the company's financial metrics remain a key focus for investors. According to InvestingPro data, Park National Corporation maintains a Price/Earnings (P/E) Ratio of 16.61 and a Price/Book (P/B) Ratio of 1.84, reflecting a market valuation that could be seen as balanced in the current financial environment. With a consistent revenue stream of $466.08 million in the last twelve months as of Q1 2024, the company demonstrates financial stability despite a slight revenue contraction of 3.08% in the same period.
An InvestingPro Tip highlights that Park National Corporation has successfully maintained dividend payments for an impressive 38 consecutive years, which is underscored by a solid dividend yield of 3.05% as of the latest data. This consistent return to shareholders may appeal to those seeking regular income from their investments. Additionally, analysts predict the company will be profitable this year, a sentiment supported by the company's positive basic and diluted earnings per share (EPS) of $7.95 and $7.9, respectively.
For investors looking for deeper insights, there are additional InvestingPro Tips available, including an upward revision of earnings by analysts and an observation of the company's weak gross profit margins. To explore these insights further and to access a comprehensive suite of tools, visit InvestingPro. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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