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

Trustmark Co. (NASDAQ:TRMK) declared a quarterly dividend on Tuesday, October 22nd,Zacks Dividends 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 dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 29th.

Trustmark has a payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Trustmark to earn $3.16 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 29.1%.

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $39.68 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 11.99 and a beta of 0.72. The stock’s fifty day simple moving average is $34.88 and its 200 day simple moving average is $32.37. Trustmark has a 52-week low of $22.11 and a 52-week high of $40.73.

Trustmark (NASDAQ:TRMK) last issued its 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. The business had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same quarter last year, the firm posted $0.64 earnings per share. As a group, sell-side analysts forecast that Trustmark will post 2.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TRMK. Hovde Group raised their target price on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Truist Financial raised their target price on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, DA Davidson lifted their price objective on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Trustmark has an average rating of “Hold” and a consensus target price of $35.20.

Insider Activity at Trustmark

In other Trustmark news, Director Gerard R. Host sold 26,416 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total value of $1,049,507.68. Following the completion of the sale, the director now owns 26,792 shares of the company’s stock, valued at $1,064,446.16. The trade was a 49.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the sale, the director now directly owns 7,334 shares of the company’s stock, valued at $263,217.26. This represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,206 shares of company stock valued at $1,347,991. Insiders own 1.50% of the company’s stock.

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.