Trustmark Corporation Declares Quarterly Dividend of $0.25 (NASDAQ:TRMK)

Trustmark Corporation (NASDAQ:TRMK) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Tuesday, September 1st will be given a dividend of 0.25 per share by the financial services provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, September 1st.

Trustmark has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 1 years. Trustmark has a dividend payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Trustmark to earn $4.10 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 24.4%.

Trustmark Stock Down 0.1%

Shares of NASDAQ:TRMK traded down $0.06 during trading on Wednesday, hitting $46.71. 523,145 shares of the company were exchanged, compared to its average volume of 407,039. The firm’s 50 day moving average price is $45.47 and its 200-day moving average price is $43.90. Trustmark has a 12-month low of $36.05 and a 12-month high of $48.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. The stock has a market capitalization of $2.74 billion, a P/E ratio of 12.38 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. The firm had revenue of $213.38 million during the quarter, compared to analysts’ expectations of $210.30 million. During the same period in the previous year, the company earned $0.92 earnings per share. Trustmark’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, research analysts predict that Trustmark will post 3.92 earnings per share for the current fiscal year.

Institutional Trading of Trustmark

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Trustmark by 27.2% in the second quarter. GAMMA Investing LLC now owns 3,403 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 727 shares during the period. Arlington Trust Co LLC raised its holdings in shares of Trustmark by 12.1% during the 2nd quarter. Arlington Trust Co LLC now owns 5,950 shares of the financial services provider’s stock valued at $274,000 after buying an additional 641 shares during the period. Bank of America Corp DE boosted its holdings in Trustmark by 121.1% in the 1st quarter. Bank of America Corp DE now owns 316,772 shares of the financial services provider’s stock worth $13,349,000 after acquiring an additional 173,486 shares during the period. EverSource Wealth Advisors LLC grew its position in Trustmark by 23.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,657 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 314 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Trustmark by 3.7% during the first quarter. Empowered Funds LLC now owns 254,772 shares of the financial services provider’s stock worth $10,736,000 after purchasing an additional 9,170 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.