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

Trustmark Co. (NASDAQ:TRMK) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Saturday, June 1st will be given a dividend of 0.23 per share by the financial services provider on Saturday, June 15th. This represents a $0.92 annualized dividend and a yield of 3.10%. The ex-dividend date is Friday, May 31st.

Trustmark has a dividend payout ratio of 35.5% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

Shares of NASDAQ TRMK traded up $0.31 during midday trading on Thursday, hitting $29.67. 171,979 shares of the company’s stock traded hands, compared to its average volume of 276,797. Trustmark has a 1 year low of $18.96 and a 1 year high of $30.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 11.42 and a beta of 0.82. The firm has a fifty day moving average of $26.79 and a 200 day moving average of $25.46.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The company had revenue of $288.55 million for the quarter, compared to the consensus estimate of $187.03 million. Trustmark had a return on equity of 10.16% and a net margin of 13.82%. During the same quarter last year, the company earned $0.82 earnings per share. On average, analysts forecast that Trustmark will post 2.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

TRMK has been the topic of a number of analyst reports. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Piper Sandler reiterated a “neutral” rating and issued a $29.00 target price on shares of Trustmark in a research note on Tuesday, March 26th. TheStreet raised Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods upgraded Trustmark from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $30.00 to $36.00 in a research note on Thursday. Finally, DA Davidson restated a “neutral” rating on shares of Trustmark in a research report on Monday, January 15th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Trustmark has an average rating of “Hold” and a consensus target price of $31.67.

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.