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

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 annualized dividend and a yield of 3.10%. 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. Equities 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 Up 1.1 %

NASDAQ:TRMK opened at $29.67 on Thursday. The firm has a market cap of $1.82 billion, a P/E ratio of 11.42 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a 50-day simple moving average of $26.79 and a two-hundred day simple moving average of $25.46. Trustmark has a fifty-two week low of $18.96 and a fifty-two week high of $29.84.

Trustmark (NASDAQ:TRMK) last released 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 net margin of 13.82% and a return on equity of 10.16%. The business had revenue of $288.55 million for the quarter, compared to the consensus estimate of $187.03 million. During the same period last year, the firm earned $0.82 earnings per share. Analysts predict that Trustmark will post 2.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised Trustmark from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $30.00 to $36.00 in a report on Thursday. Truist Financial boosted their price objective 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. TheStreet raised shares of Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Piper Sandler reiterated a “neutral” rating and issued a $29.00 target price on shares of Trustmark in a research report on Tuesday, March 26th. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Trustmark has an average rating of “Hold” and a consensus 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.