Trustmark Co. (TRMK) to Issue Quarterly Dividend of $0.23 on December 15th

Trustmark Co. (NASDAQ:TRMK) announced a quarterly dividend on Tuesday, October 22nd,Zacks Dividends reports. Stockholders of record on Sunday, December 1st will be given a dividend of 0.23 per share by the financial services provider on Sunday, December 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Friday, November 29th.

Trustmark has a dividend payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NASDAQ TRMK opened at $39.78 on Wednesday. The company has a market capitalization of $2.43 billion, a PE ratio of 12.02 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark has a 52-week low of $22.11 and a 52-week high of $40.73. The company has a 50-day simple moving average of $34.74 and a 200 day simple moving average of $32.31.

Trustmark (NASDAQ:TRMK) last issued 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. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The company had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. During the same quarter last year, the business posted $0.64 EPS. On average, research analysts predict that Trustmark will post 2.94 EPS for the current year.

Insider Buying and Selling at Trustmark

In related news, Director Marcelo L. Eduardo sold 790 shares of Trustmark 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 sale, the director now owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerard R. Host sold 26,416 shares of the business’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 owns 26,792 shares of the company’s stock, valued at approximately $1,064,446.16. The trade was a 49.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,206 shares of company stock valued at $1,347,991 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TRMK. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial upped their price objective on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. DA Davidson lifted their target price on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Hovde Group upped their price target on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and one has given 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 $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.