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

Trustmark Co. (NASDAQ:TRMK) announced a quarterly dividend on Tuesday, October 22nd,Zacks Dividends reports. Investors of record on Sunday, December 1st will be paid a dividend of 0.23 per share by the financial services provider on Sunday, December 15th. This represents a $0.92 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 29th.

Trustmark has a dividend payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Trustmark to earn $3.16 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 29.1%.

Trustmark Trading Down 0.3 %

Shares of NASDAQ TRMK opened at $39.68 on Thursday. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 11.99 and a beta of 0.72. Trustmark has a 12-month low of $22.11 and a 12-month high of $40.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The stock’s 50 day simple moving average is $34.88 and its 200 day simple moving average is $32.37.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. The business had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same quarter last year, the business posted $0.64 EPS. Equities research analysts expect that Trustmark will post 2.94 EPS for the current year.

Insider Activity

In other news, Director Gerard R. Host sold 7,000 shares of Trustmark stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the transaction, the director now directly owns 16,500 shares in the company, valued at approximately $636,735. This trade represents a 29.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the transaction, the director now owns 7,334 shares in the company, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,206 shares of company stock worth $1,347,991. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRMK. DA Davidson raised their price target on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Hovde Group raised their target price on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Truist Financial raised their target price on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.20.

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.