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

Trustmark Co. (NASDAQ:TRMK) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Stockholders of record on Sunday, December 1st will be paid a dividend of 0.23 per share by the financial services provider on Sunday, December 15th. This represents a $0.92 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, November 29th.

Trustmark has a dividend payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Trustmark to earn $3.09 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 29.8%.

Trustmark Trading Down 0.2 %

TRMK opened at $34.44 on Thursday. The firm has a 50 day simple moving average of $32.55 and a 200 day simple moving average of $30.88. Trustmark has a fifty-two week low of $18.96 and a fifty-two week high of $35.75. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 13.40 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. The firm had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. During the same quarter in the previous year, the business earned $0.64 EPS. On average, sell-side analysts anticipate that Trustmark will post 2.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Truist Financial lowered their target price on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, September 20th. DA Davidson lifted their target price on shares of Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered shares of Trustmark from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Trustmark has a consensus rating of “Hold” and a consensus price target of $34.50.

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.