Trustmark Corp (NASDAQ:TRMK) Announces $0.23 Quarterly Dividend

Trustmark Corp (NASDAQ:TRMK) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Tuesday, September 1st will be given a dividend of 0.23 per share by the financial services provider on Tuesday, September 15th. This represents a $0.92 annualized dividend and a yield of 4.03%. The ex-dividend date is Monday, August 31st.

Trustmark has a payout ratio of 56.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Trustmark to earn $1.46 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 63.0%.

Shares of NASDAQ:TRMK traded down $0.91 during trading on Thursday, reaching $22.81. 10,054 shares of the company’s stock traded hands, compared to its average volume of 261,676. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 0.04. Trustmark has a fifty-two week low of $20.26 and a fifty-two week high of $36.04. The company has a 50-day simple moving average of $23.46 and a 200-day simple moving average of $26.23. The firm has a market cap of $1.45 billion, a PE ratio of 11.68 and a beta of 1.09.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.25 by $0.26. Trustmark had a return on equity of 8.16% and a net margin of 17.64%. The company had revenue of $177.52 million for the quarter, compared to analyst estimates of $160.25 million. During the same period last year, the company earned $0.65 earnings per share. On average, equities research analysts forecast that Trustmark will post 1.39 EPS for the current year.

A number of research firms have recently commented on TRMK. Keefe, Bruyette & Woods raised shares of Trustmark from an “underperform” rating to a “market perform” rating and set a $25.00 target price for the company in a research note on Wednesday, April 1st. Zacks Investment Research upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. BidaskClub lowered Trustmark from a “sell” rating to a “strong sell” rating in a research note on Friday, July 10th. Finally, Raymond James upgraded Trustmark from an “underperform” rating to a “market perform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Trustmark presently has a consensus rating of “Hold” and an average price target of $33.00.

In related news, Director Richard H. Puckett bought 5,000 shares of the stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $22.98 per share, for a total transaction of $114,900.00. Following the acquisition, the director now directly owns 30,302 shares in the company, valued at approximately $696,339.96. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.

See Also: Retained Earnings

Dividend History for Trustmark (NASDAQ:TRMK)

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