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

Trustmark Co. (NASDAQ:TRMK) declared a quarterly dividend on Tuesday, July 23rd, Zacks reports. Shareholders of record on Sunday, September 1st will be paid a dividend of 0.23 per share by the financial services provider on Sunday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, August 30th.

Trustmark has a dividend payout ratio of 30.9% indicating that its dividend is sufficiently covered by earnings. 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 NASDAQ TRMK opened at $33.60 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $2.06 billion, a P/E ratio of 13.07 and a beta of 0.75. Trustmark has a 12 month low of $18.96 and a 12 month high of $34.97. The stock has a 50 day moving average of $29.92 and a 200-day moving average of $28.32.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $283.96 million during the quarter, compared to analysts’ expectations of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.66%. During the same period in the previous year, the business posted $0.74 earnings per share. As a group, equities research analysts predict that Trustmark will post 2.75 EPS for the current year.

Analysts Set New Price Targets

TRMK has been the topic of several research analyst reports. Truist Financial lowered their price target on shares of Trustmark from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, July 8th. DA Davidson boosted their price target on Trustmark from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $30.00 to $36.00 in a research note on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Trustmark presently has an average rating of “Hold” and an average target price of $32.50.

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.