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| Snag This Bargain 4.2% Yielder Even Cheaper Than Director Delawder DidBy Dividend Channel Staff, Monday, May 22, 11:13 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 8, Park National Corp's Director, Dan Delawder, invested $62,712.00 into 600 shares of PRK, for a cost per share of $104.52. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Monday, bargain hunters could buy shares of Park National Corp (AMEX:PRK) and achieve a cost basis 4.8% cheaper than Delawder, with shares changing hands as low as $99.46 per share. It should be noted that Delawder has collected $1.05/share in dividends since the time of their purchase, so they are currently down 3.8% on their purchase from a total return basis. Park National Corp shares are currently trading up about 0.1% on the day. The chart below shows the one year performance of PRK shares, versus its 200 day moving average:
Looking at the chart above, PRK's low point in its 52 week range is $99.10 per share, with $151.59 as the 52 week high point — that compares with a last trade of $100.34. By comparison, below is a table showing the prices at which PRK insider buying was recorded over the last six months:
The current annualized dividend paid by Park National Corp is $4.2/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 05/18/2023. Below is a long-term dividend history chart for PRK, which can be of good help in judging whether the most recent dividend with approx. 4.2% annualized yield is likely to continue.
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