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

Trustmark Co. (NASDAQ:TRMK) declared 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 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend 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 $3.19 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 %

Shares of NASDAQ:TRMK traded up $0.86 during trading on Wednesday, hitting $37.38. 606,687 shares of the company’s stock traded hands, compared to its average volume of 309,620. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 11.29 and a beta of 0.76. The company has a 50-day moving average price of $36.53 and a 200-day moving average price of $34.56. 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 52 week low of $25.24 and a 52 week high of $40.73.

Trustmark (NASDAQ:TRMK) last released its earnings results 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 return on equity of 9.48% and a net margin of 17.62%. As a group, research analysts forecast that Trustmark will post 2.96 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at Trustmark

In other Trustmark news, Director Gerard R. Host sold 26,416 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total value of $1,049,507.68. Following the transaction, the director now directly owns 26,792 shares in the company, valued at $1,064,446.16. This represents a 49.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

About Trustmark

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.