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

Trustmark Co. (NASDAQ:TRMK) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Stockholders of record on Saturday, March 1st will be given a dividend of 0.24 per share by the financial services provider on Saturday, March 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Friday, February 28th. This is an increase from Trustmark’s previous quarterly dividend of $0.23.

Trustmark has a dividend payout ratio of 27.3% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 2.4 %

NASDAQ TRMK opened at $37.38 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark has a 1-year low of $25.24 and a 1-year high of $40.73. The company has a 50 day moving average of $36.53 and a 200-day moving average of $34.58. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 11.29 and a beta of 0.76.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data 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 net margin of 17.62% and a return on equity of 9.48%. On average, equities research analysts expect that Trustmark will post 2.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gerard R. Host sold 7,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $38.59, for a total value of $270,130.00. Following the transaction, the director now owns 16,500 shares in the company, valued at $636,735. The trade was a 29.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TRMK. Janney Montgomery Scott began coverage on shares of Trustmark in a research note on Friday, January 24th. They set a “buy” rating and a $42.00 target price on the stock. DA Davidson boosted their target price on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Truist Financial boosted their target price on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Hovde Group boosted their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Finally, StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.33.

Trustmark Company Profile

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.