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

Trustmark Co. (NASDAQ:TRMK - Get Free Report) announced a quarterly dividend on Tuesday, October 22nd, Zacks 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 2.67%. The ex-dividend date is Friday, November 29th.

Trustmark has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Trustmark to earn $3.09 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 29.8%.

Trustmark Price Performance

TRMK traded up $0.02 during trading hours on Thursday, hitting $34.46. The company's stock had a trading volume of 257,269 shares, compared to its average volume of 273,898. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The business's 50-day moving average price is $32.55 and its 200-day moving average price is $30.88. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 13.34 and a beta of 0.73. Trustmark has a 12 month low of $18.96 and a 12 month high of $35.75.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same period in the previous year, the firm earned $0.64 earnings per share. Sell-side analysts expect that Trustmark will post 2.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TRMK has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Trustmark from a "hold" rating to a "sell" rating in a research note on Wednesday, October 9th. Truist Financial lowered their target price on shares of Trustmark from $37.00 to $35.00 and set a "hold" rating for the company in a research note on Friday, September 20th. Finally, DA Davidson upped their price objective on shares of Trustmark from $35.00 to $38.00 and gave the stock a "neutral" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Trustmark currently has a consensus rating of "Hold" and a consensus price target of $34.50.

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.