Trustmark Co. (NASDAQ:TRMK) Announces Quarterly Dividend of $0.23

Trustmark Co. (NASDAQ:TRMK) declared 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 yield of 2.31%. The ex-dividend date is Friday, November 29th.

Trustmark has a dividend payout ratio of 28.8% meaning 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 Price Performance

Shares of Trustmark stock opened at $39.78 on Wednesday. The firm has a market capitalization of $2.43 billion, a PE ratio of 12.02 and a beta of 0.72. 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 12 month low of $22.11 and a 12 month high of $40.73. The business’s 50-day moving average price is $34.74 and its 200-day moving average price is $32.31.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TRMK. Truist Financial boosted their target price on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Friday, October 25th. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Hovde Group raised their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, DA Davidson upped their target price on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Trustmark has a consensus rating of “Hold” and a consensus price target of $35.20.

Insider Activity at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total transaction of $28,353.10. Following the completion of the transaction, the director now directly owns 7,334 shares in the company, valued at $263,217.26. This trade represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerard R. Host sold 7,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the completion of the transaction, the director now owns 16,500 shares in the company, valued at approximately $636,735. The trade was a 29.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,206 shares of company stock valued at $1,347,991 in the last three months. Company insiders own 1.50% of the company’s stock.

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.