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

Trustmark Co. (NASDAQ:TRMK) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders 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 3.09%. The ex-dividend date of this dividend is Friday, May 31st.

Trustmark has a payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.5 %

Shares of NASDAQ TRMK traded up $0.45 during mid-day trading on Thursday, reaching $29.81. The company had a trading volume of 112,655 shares, compared to its average volume of 275,542. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 11.42 and a beta of 0.82. Trustmark has a 52 week low of $18.96 and a 52 week high of $30.09. The business’s 50-day moving average is $26.79 and its 200-day moving average is $25.46. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11.

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

Analyst Ratings Changes

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