Trustmark Co. (TRMK) to Issue Quarterly Dividend of $0.24 on March 15th

Trustmark Co. (NASDAQ:TRMK) declared a quarterly dividend on Tuesday, January 28th, Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost 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. Analysts expect Trustmark to earn $3.51 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 27.4%.

Trustmark Stock Up 0.4 %

TRMK stock opened at $36.19 on Wednesday. The company has a market capitalization of $2.20 billion, a P/E ratio of 9.94 and a beta of 0.76. The firm has a 50 day simple moving average of $36.15 and a 200-day simple moving average of $35.19. 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 twelve month low of $25.24 and a twelve month high of $40.73.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. On average, equities research analysts predict that Trustmark will post 3.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Keefe, Bruyette & Woods increased their target price on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. DA Davidson raised their price objective on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Janney Montgomery Scott started coverage on shares of Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 price objective for the company. Finally, Hovde Group increased their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.67.

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.