Trustmark Co. (NASDAQ:TRMK) to Issue Quarterly Dividend of $0.24

Trustmark Co. (NASDAQ:TRMK) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Stockholders of record on Saturday, March 1st will be paid a dividend of 0.24 per share by the financial services provider on Saturday, March 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Trustmark’s previous quarterly dividend of $0.23.

Trustmark has a payout ratio of 27.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Trustmark to earn $3.19 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 28.8%.

Trustmark Trading Up 0.1 %

NASDAQ:TRMK traded up $0.02 on Thursday, hitting $37.40. The stock had a trading volume of 377,376 shares, compared to its average volume of 319,930. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 11.30 and a beta of 0.76. The company has a fifty day moving average price of $36.53 and a two-hundred day moving average price of $34.58. Trustmark has a 1-year low of $25.24 and a 1-year high of $40.73.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. Equities research analysts expect that Trustmark will post 2.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on TRMK shares. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Janney Montgomery Scott started coverage on Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 price objective for the company. Hovde Group raised their target price on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. DA Davidson increased their price objective on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Truist Financial lifted their price objective on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.83.

Insider Activity at Trustmark

In other Trustmark news, Director Gerard R. Host sold 26,416 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the transaction, the director now directly owns 26,792 shares of the company’s stock, valued at approximately $1,064,446.16. This trade represents a 49.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

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.