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

Trustmark Co. (NASDAQ:TRMKGet Free Report) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Saturday, June 1st will be paid 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 dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, May 31st.

Trustmark has a payout ratio of 30.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Trustmark to earn $3.00 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 30.7%.

Trustmark Stock Performance

Shares of TRMK opened at $28.70 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 11.17 and a beta of 0.78. The company’s 50 day simple moving average is $28.54 and its 200 day simple moving average is $27.06. Trustmark has a 1 year low of $18.96 and a 1 year high of $31.23.

Trustmark (NASDAQ:TRMKGet Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.08. The business had revenue of $288.55 million for the quarter, compared to the consensus estimate of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, sell-side analysts predict that Trustmark will post 2.77 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Keefe, Bruyette & Woods raised shares of Trustmark from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $30.00 to $36.00 in a research report on Thursday, April 25th. Piper Sandler reissued a “neutral” rating and issued a $29.00 price objective on shares of Trustmark in a research report on Tuesday, March 26th. DA Davidson increased their price objective on shares of Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Truist Financial increased their price objective on shares of Trustmark from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.75.

Get Our Latest Report on TRMK

Trustmark Company Profile

(Get Free Report)

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.

See Also

Dividend History for Trustmark (NASDAQ:TRMK)

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