Trustmark Corporation (TRMK) to Issue Quarterly Dividend of $0.25 on March 15th

Trustmark Corporation (NASDAQ:TRMK) announced a quarterly dividend on Tuesday, January 27th. Stockholders of record on Sunday, March 1st will be given a dividend of 0.25 per share by the financial services provider on Sunday, March 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, February 27th. This is a 4.2% increase from Trustmark’s previous quarterly dividend of $0.24.

Trustmark has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Trustmark has a payout ratio of 27.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Trustmark to earn $3.51 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 28.5%.

Trustmark Stock Performance

Shares of TRMK opened at $43.11 on Wednesday. The stock has a 50-day moving average of $41.78 and a two-hundred day moving average of $40.07. The stock has a market cap of $2.58 billion, a P/E ratio of 11.62 and a beta of 0.69. Trustmark has a one year low of $29.77 and a one year high of $45.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. The company had revenue of $209.44 million during the quarter, compared to the consensus estimate of $207.05 million. During the same period in the previous year, the firm posted $0.92 earnings per share. As a group, research analysts predict that Trustmark will post 3.42 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on TRMK. Wall Street Zen downgraded Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, January 21st. DA Davidson upped their price target on Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Finally, Hovde Group raised their target price on Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Trustmark currently has an average rating of “Hold” and an average target price of $43.83.

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.