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

Key Points

• Trustmark declared a quarterly dividend of $0.25 per share, payable September 15 to shareholders of record September 1. The payment implies a $1.00 annualized dividend and approximately a 2.1% yield.
• The dividend appears well covered, with a current payout ratio of 27.8% and an expected forward payout ratio of 24.4%. Analysts project next year’s earnings at $4.10 per share.
• Trustmark reported quarterly EPS of $0.97, slightly above the $0.96 consensus estimate, while revenue rose 4.8% year over year to $213.38 million. Institutional investors and hedge funds own 67.64% of the company.

Trustmark Corporation (NASDAQ:TRMK - Get Free Report) declared a quarterly dividend on Tuesday, July 28th. Investors 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 of this dividend is Tuesday, September 1st.

Trustmark has increased its dividend payment 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 $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 Price Performance

Trustmark stock traded down $0.14 during mid-day trading on Wednesday, reaching $46.63. The company had a trading volume of 499,344 shares, compared to its average volume of 406,884. The business has a fifty day simple moving average of $45.47 and a 200 day simple moving average of $43.90. The company has a market cap of $2.73 billion, a P/E ratio of 12.33 and a beta of 0.65. Trustmark has a fifty-two week low of $36.05 and a fifty-two week high of $48.00. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11.

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

Institutional Trading of Trustmark

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. purchased a new stake in shares of Trustmark in the fourth quarter worth approximately $31,000. Rockefeller Capital Management L.P. grew its position in shares of Trustmark by 1,129.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 779 shares during the period. Meeder Asset Management Inc. purchased a new stake in Trustmark in the fourth quarter worth $36,000. EverSource Wealth Advisors LLC increased its holdings in Trustmark by 452.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider's stock worth $46,000 after acquiring an additional 1,022 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Trustmark by 24.1% in the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 267 shares during the period. Institutional investors and hedge funds 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.

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