Trustmark Co. (NASDAQ:TRMK) Declares $0.23 Quarterly Dividend

Trustmark Co. (NASDAQ:TRMK) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Shareholders of record on Sunday, December 1st will be given a dividend of 0.23 per share by the financial services provider on Sunday, December 15th. This represents a $0.92 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, November 29th.

Trustmark has a payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Trustmark to earn $3.09 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 29.8%.

Trustmark Stock Performance

Shares of TRMK opened at $34.44 on Thursday. The company has a 50-day moving average of $32.55 and a two-hundred day moving average of $30.88. The stock has a market cap of $2.11 billion, a P/E ratio of 13.40 and a beta of 0.73. Trustmark has a 12-month low of $18.96 and a 12-month high of $35.75. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. The firm had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same period in the previous year, the firm posted $0.64 EPS. As a group, research analysts predict that Trustmark will post 2.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on TRMK. StockNews.com cut Trustmark from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. DA Davidson lifted their price target on shares of Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Finally, Truist Financial reduced their price objective on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.50.

About Trustmark

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.