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

Trustmark Co. (NASDAQ:TRMK) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Saturday, June 1st will be given a dividend of 0.23 per share by the financial services provider on Saturday, June 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, May 31st.

Trustmark has a payout ratio of 35.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Trustmark to earn $2.62 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 35.1%.

Trustmark Price Performance

TRMK stock traded up $0.45 during trading on Thursday, reaching $29.81. The company’s stock had a trading volume of 112,655 shares, compared to its average volume of 275,542. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average is $26.79 and its 200-day moving average is $25.46. The company has a market capitalization of $1.82 billion, a P/E ratio of 11.42 and a beta of 0.82. Trustmark has a 1 year low of $18.96 and a 1 year high of $30.09.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. Trustmark had a return on equity of 10.16% and a net margin of 13.82%. The business had revenue of $288.55 million during the quarter, compared to the consensus estimate of $187.03 million. During the same period in the prior year, the company posted $0.82 EPS. On average, research analysts expect that Trustmark will post 2.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TRMK shares. Keefe, Bruyette & Woods raised shares of Trustmark from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $30.00 to $36.00 in a research report on Thursday. TheStreet upgraded Trustmark from a “c+” rating to a “b” rating in a report on Tuesday, January 23rd. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Friday, April 19th. DA Davidson reissued a “neutral” rating on shares of Trustmark in a research report on Monday, January 15th. Finally, Truist Financial raised their target price on shares of Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, April 1st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Trustmark currently has an average rating of “Hold” and an average target price of $31.67.

Trustmark Company Profile

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.