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

Key Points

• Trustmark declared a quarterly dividend of $0.25 per share, payable June 15 to shareholders of record on June 1 (ex-dividend date June 1), representing a $1.00 annualized payout and about a 2.2% yield with a payout ratio near 27.8%.
• The company beat estimates in the latest quarter, reporting $0.95 EPS versus $0.87 consensus on $208.1 million of revenue, with a 10.77% return on equity and roughly 19.95% net margin.
• Shares trade around $45.52 with a $2.68 billion market cap and a 12.3 P/E; analysts hold a consensus "Hold" rating with a $44.50 target amid mixed buy/hold/sell coverage.

Trustmark Corporation (NASDAQ:TRMK - Get Free Report) declared a quarterly dividend on Tuesday, April 28th. Stockholders of record on Monday, June 1st will be given a dividend of 0.25 per share by the financial services provider on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, June 1st.

Trustmark has raised its dividend payment 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 payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. 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 Up 0.0%

Shares of TRMK opened at $45.52 on Wednesday. The business's 50 day moving average is $43.16 and its 200 day moving average is $41.14. The company has a market capitalization of $2.68 billion, a PE ratio of 12.33 and a beta of 0.65. Trustmark has a 12-month low of $33.09 and a 12-month high of $45.99. 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 posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. The business had revenue of $208.07 million during the quarter, compared to the consensus estimate of $204.92 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same period in the prior year, the company posted $0.88 EPS. Research analysts expect that Trustmark will post 3.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on TRMK shares. DA Davidson lifted their price target on shares of Trustmark from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, January 29th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $45.00 price objective on shares of Trustmark in a research report on Thursday, April 9th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Trustmark in a research report on Wednesday, January 21st. Brean Capital started coverage on Trustmark in a research note on Thursday, March 12th. They set a "buy" rating for the company. Finally, Wall Street Zen downgraded Trustmark from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $44.50.

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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