Trustmark Co. (TRMK) to Issue Quarterly Dividend of $0.24 on March 15th

Trustmark Co. (NASDAQ:TRMK) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Shareholders of record on Saturday, March 1st will be paid a dividend of 0.24 per share by the financial services provider on Saturday, March 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Trustmark’s previous quarterly dividend of $0.23.

Trustmark has a dividend payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Trustmark to earn $3.19 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 28.8%.

Trustmark Trading Up 0.1 %

Shares of TRMK traded up $0.02 during midday trading on Thursday, hitting $37.40. The stock had a trading volume of 377,376 shares, compared to its average volume of 319,930. Trustmark has a 1 year low of $25.24 and a 1 year high of $40.73. The firm has a market cap of $2.29 billion, a PE ratio of 11.30 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The stock’s 50 day moving average is $36.53 and its 200 day moving average is $34.58.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. As a group, analysts forecast that Trustmark will post 2.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Truist Financial raised their price objective on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Hovde Group raised their target price on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Janney Montgomery Scott began coverage on shares of Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 target price on the stock. DA Davidson raised their target price on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Trustmark has a consensus rating of “Hold” and an average price target of $36.83.

Insider Activity

In other news, Director Gerard R. Host sold 7,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total value of $270,130.00. Following the sale, the director now owns 16,500 shares in the company, valued at $636,735. This represents a 29.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.