Trustmark Corporation (TRMK) To Go Ex-Dividend on September 1st

Trustmark Corporation (NASDAQ:TRMK) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Tuesday, September 1st will be paid 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 raised its dividend payment by an average of 0.0%annually over the last three years and has increased 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. 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

NASDAQ:TRMK opened at $46.93 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $2.75 billion, a P/E ratio of 11.91 and a beta of 0.65. Trustmark has a 12 month low of $36.05 and a 12 month high of $48.00. The business’s 50-day moving average is $45.53 and its 200 day moving average is $43.94.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $213.38 million for the quarter, compared to analysts’ expectations of $210.30 million. Trustmark had a net margin of 20.75% and a return on equity of 10.72%. Trustmark’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 earnings per share. On average, equities research analysts forecast that Trustmark will post 3.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trustmark

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Trustmark by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,897,556 shares of the financial services provider’s stock worth $164,244,000 after buying an additional 20,628 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Trustmark by 8.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after purchasing an additional 316,851 shares during the last quarter. North Reef Capital Management LP purchased a new position in Trustmark in the first quarter worth approximately $82,296,000. Geode Capital Management LLC grew its holdings in shares of Trustmark by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,491,837 shares of the financial services provider’s stock worth $58,112,000 after purchasing an additional 9,198 shares during the period. Finally, UBS Group AG increased its position in shares of Trustmark by 282.0% during the fourth quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock valued at $24,944,000 after acquiring an additional 472,751 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

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.