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

Trustmark Co. (NASDAQ:TRMK) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, November 29th.

Trustmark has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NASDAQ TRMK opened at $34.44 on Thursday. The firm has a market cap of $2.11 billion, a PE ratio of 13.40 and a beta of 0.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. Trustmark has a 1-year low of $18.96 and a 1-year high of $35.75. The company has a fifty day moving average price of $32.55 and a 200 day moving average price of $30.88.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $192.77 million. During the same period in the previous year, the firm posted $0.64 EPS. Research analysts predict that Trustmark will post 2.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TRMK has been the topic of several analyst reports. StockNews.com cut shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. DA Davidson boosted their price target on shares of Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Truist Financial cut their price target on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.50.

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.