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

Trustmark Co. (NASDAQ:TRMK - Get Free Report) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Saturday, June 1st will be paid a dividend of 0.23 per share by the financial services provider on Saturday, June 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, May 31st.

Trustmark has a dividend payout ratio of 35.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Trustmark to earn $2.62 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 35.1%.

Trustmark Price Performance

Shares of Trustmark stock traded up $0.46 during trading on Thursday, reaching $29.82. 739,757 shares of the stock traded hands, compared to its average volume of 282,886. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 11.60 and a beta of 0.82. The business has a fifty day simple moving average of $26.79 and a two-hundred day simple moving average of $25.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.84. Trustmark has a 52-week low of $18.96 and a 52-week high of $30.09.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. Trustmark had a return on equity of 10.16% and a net margin of 13.82%. The company had revenue of $288.55 million for the quarter, compared to analysts' expectations of $187.03 million. During the same period in the previous year, the firm posted $0.82 earnings per share. Sell-side analysts expect that Trustmark will post 2.44 EPS for the current year.

Wall Street Analyst Weigh In

TRMK has been the topic of several analyst reports. Truist Financial boosted their price objective on Trustmark from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Monday, April 1st. DA Davidson boosted their target price on Trustmark from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday. Keefe, Bruyette & Woods upgraded Trustmark from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $30.00 to $36.00 in a research report on Thursday. TheStreet upgraded Trustmark from a "c+" rating to a "b" rating in a research report on Tuesday, January 23rd. Finally, Piper Sandler restated a "neutral" rating and set a $29.00 target price on shares of Trustmark in a research report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Trustmark has a consensus rating of "Hold" and an average price target of $32.25.

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.