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

Trustmark Corporation (NASDAQ:TRMK) declared a quarterly dividend on Tuesday, January 27th. Stockholders of record on Sunday, March 1st will be paid a dividend of 0.25 per share by the financial services provider on Sunday, March 15th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, February 27th. This is a 4.2% increase from Trustmark’s previous quarterly dividend of $0.24.

Trustmark has a payout ratio of 26.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Trustmark to earn $3.51 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 27.4%.

Trustmark Stock Performance

Shares of TRMK opened at $42.11 on Thursday. The stock’s 50-day simple moving average is $40.09 and its 200 day simple moving average is $39.25. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 11.51 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.88. Trustmark has a 52-week low of $29.77 and a 52-week high of $43.29.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. Trustmark had a return on equity of 10.83% and a net margin of 19.95%.The business had revenue of $209.44 million during the quarter, compared to analyst estimates of $207.05 million. During the same quarter in the previous year, the firm earned $0.92 EPS. Research analysts forecast that Trustmark will post 3.42 EPS for the current fiscal year.

Institutional Trading of Trustmark

Hedge funds have recently made changes to their positions in the stock. Richardson Financial Services Inc. increased its stake in Trustmark by 86.7% in the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 345 shares during the last quarter. Blue Trust Inc. purchased a new position in shares of Trustmark in the 4th quarter worth about $31,000. Bessemer Group Inc. increased its position in shares of Trustmark by 37.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 292 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,022 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Trustmark by 24.1% during the 3rd quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock valued at $54,000 after buying an additional 267 shares in the last quarter. 67.64% of the stock is owned by institutional investors.

About Trustmark

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.