Trustmark Co. (TRMK) To Go Ex-Dividend on May 31st

Trustmark Co. (NASDAQ:TRMK) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Saturday, June 1st will be given a dividend of 0.23 per share by the financial services provider on Saturday, June 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, May 31st.

Trustmark has a payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Trustmark to earn $2.62 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 35.1%.

Trustmark Stock Performance

Shares of TRMK stock traded up $0.31 during mid-day trading on Thursday, reaching $29.67. The stock had a trading volume of 171,979 shares, compared to its average volume of 276,797. The business’s fifty day moving average is $26.79 and its 200-day moving average is $25.46. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 11.42 and a beta of 0.82. Trustmark has a 1-year low of $18.96 and a 1-year high of $30.09.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.60 by $0.08. The company had revenue of $288.55 million for the quarter, compared to analyst estimates of $187.03 million. Trustmark had a return on equity of 10.16% and a net margin of 13.82%. During the same period last year, the company earned $0.82 earnings per share. On average, research analysts forecast that Trustmark will post 2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TRMK. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Truist Financial upped their price target on Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, April 1st. DA Davidson reaffirmed a “neutral” rating on shares of Trustmark in a research report on Monday, January 15th. Piper Sandler reiterated a “neutral” rating and issued a $29.00 price target on shares of Trustmark in a research note on Tuesday, March 26th. Finally, Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $30.00 to $36.00 in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.67.

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.