In a recent transaction, Mark R. Ramser, director at PARK NATIONAL CORP /OH/ (NYSEAMERICAN:PRK), sold a series of fractional shares at a uniform price of $131.22, amounting to a total sale value of $241. The transactions occurred on March 25, 2024, and were reported in a regulatory filing with the SEC.
The sold shares were held in various investment vehicles, including individual retirement accounts (IRAs) and trusts. Specifically, the shares sold were attributed to Mark Ramser's IRA, both deductible and non-deductible, as well as Denise Ramser's IRA, also in both deductible and non-deductible forms. The transactions resulted in a decrease in the number of shares owned by these accounts.
Following the sale, the ownership stakes held indirectly by Mark and Denise Ramser in PARK NATIONAL CORP /OH/ have been updated. The shares owned following the transaction are now 2292 and 5719 shares for Mark Ramser's IRAs, and 1379 and 3025 shares for Denise Ramser's IRAs, respectively. These figures have been adjusted due to shares acquired under the company's dividend reinvestment plan since the last reportable transaction date.
In addition to the IRAs, the filing also reported holdings in several trusts and family partnerships. Mark Ramser, as co-owner or trustee, holds varying degrees of voting and investment power over these shares. However, he disclaims beneficial ownership of these shares except to the extent of his pecuniary interest, or in the case of Ramser Arboretum, a 501(c)(3) private charitable operating foundation, any pecuniary interest at all.
The sale of fractional shares by a director of PARK NATIONAL CORP /OH/ provides investors with updated information on insider transactions, which can be a valuable piece of data for those tracking the financial moves of company executives.
InvestingPro Insights
Amidst the recent insider transactions at PARK NATIONAL CORP /OH/ (NYSEAMERICAN: PRK), the company’s financial health and performance metrics provide additional context for investors. According to the latest data, PARK NATIONAL CORP has a Price/Earnings (P/E) ratio of 16.61, which offers a measure of the company's valuation in the context of its earnings. Despite concerns over weak gross profit margins, the company has demonstrated resilience with a substantial price increase of 40.99% over the last six months, signaling robust investor confidence.
Investors tracking dividend consistency will note an InvestingPro Tip highlighting that PARK NATIONAL CORP has maintained its dividend payments for an impressive 38 consecutive years. This track record is complemented by a current dividend yield of 3.25%, which may appeal to income-focused investors. Furthermore, the company’s commitment to shareholder returns is underscored by its consistent profitability, as indicated by another InvestingPro Tip, with the company being profitable over the last twelve months and analysts predicting profitability for the current year.
For those seeking a deeper dive into PARK NATIONAL CORP’s financials and performance, InvestingPro offers additional insights, including a total of 5 InvestingPro Tips for the company, which can be explored at https://www.investing.com/pro/PRK. Interested readers can take advantage of a special offer using the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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