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

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 dividend on an annualized basis and a dividend yield of 2.65%. 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% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Performance

TRMK opened at $36.19 on Wednesday. The business has a 50 day moving average price of $36.15 and a two-hundred day moving average price of $35.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 9.94 and a beta of 0.76. Trustmark has a 1-year low of $25.24 and a 1-year high of $40.73.

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

Analyst Ratings Changes

Several research firms have recently weighed in on TRMK. DA Davidson raised 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, January 30th. Hovde Group raised their price objective on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their target price on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Janney Montgomery Scott began coverage on Trustmark in a research report on Friday, January 24th. They issued a “buy” rating and a $42.00 price target for the company. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.