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

Trustmark Co. (NASDAQ:TRMK) announced 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 yield of 3.10%. The ex-dividend date is Friday, May 31st.

Trustmark has a dividend payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

TRMK opened at $29.67 on Thursday. Trustmark has a 52-week low of $18.96 and a 52-week high of $29.84. 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 firm’s fifty day simple moving average is $26.79 and its two-hundred day simple moving average is $25.46. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 11.42 and a beta of 0.82.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 EPS 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 company had revenue of $288.55 million during the quarter, compared to analyst estimates of $187.03 million. During the same period in the previous year, the business earned $0.82 EPS. Equities analysts anticipate that Trustmark will post 2.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TRMK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and raised their price objective for the stock 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 research report on Tuesday, January 23rd. Piper Sandler reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Trustmark in a research note on Tuesday, March 26th. DA Davidson reissued a “neutral” rating on shares of Trustmark in a research report on Monday, January 15th. Finally, Truist Financial upped their target price on shares of Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $31.67.

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.