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

Trustmark Corporation (NASDAQ:TRMK) declared a quarterly dividend on Tuesday, October 27th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.25 per share by the financial services provider on Tuesday, December 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, December 1st.

Trustmark has a dividend payout ratio of 27.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Trustmark to earn $4.33 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 23.1%.

Trustmark Trading Down 1.5%

TRMK stock opened at $45.44 on Wednesday. Trustmark has a 1-year low of $36.41 and a 1-year high of $49.00. The firm has a market capitalization of $2.64 billion, a PE ratio of 11.56 and a beta of 0.66. The business’s 50 day simple moving average is $45.86 and its 200 day simple moving average is $44.66.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.00. The business had revenue of $212.26 million during the quarter, compared to the consensus estimate of $215.04 million. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. As a group, sell-side analysts predict that Trustmark will post 3.97 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on TRMK shares. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Keefe, Bruyette & Woods upped their target price on Trustmark from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, September 16th. Weiss Ratings raised Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, August 14th. DA Davidson boosted their target price on shares of Trustmark from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Finally, Piper Sandler raised their price target on shares of Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.38.

Trustmark Company Profile

Trustmark Corporation (NASDAQ: TRMK) is a financial services company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides banking, wealth management and insurance services to individuals, businesses and institutional clients.

Trustmark’s banking activities include deposit accounts, consumer and commercial lending, mortgages, treasury management and other financial services. Its wealth management business offers trust, investment management, financial planning and related services, while its insurance operations provide personal and commercial insurance products.

Founded in 1889, Trustmark serves customers through banking and financial services operations in Mississippi, Alabama, Florida, Tennessee and Texas.