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

Trustmark Co. (NASDAQ:TRMK – Get Rating) announced a quarterly dividend on Tuesday, April 26th, Zacks reports. Shareholders of record on Wednesday, June 1st will be given a dividend of 0.23 per share by the financial services provider on Wednesday, June 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Tuesday, May 31st.

Trustmark has a payout ratio of 40.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Trustmark to earn $2.37 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 38.8%.

Shares of Trustmark stock opened at $28.57 on Thursday. The business has a 50-day simple moving average of $30.72 and a 200-day simple moving average of $32.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.82. Trustmark has a one year low of $28.30 and a one year high of $35.30. The company has a market cap of $1.76 billion, a PE ratio of 12.21 and a beta of 0.90.

Trustmark (NASDAQ:TRMK – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Trustmark had a net margin of 21.80% and a return on equity of 8.89%. During the same period in the prior year, the company earned $0.82 earnings per share. On average, sell-side analysts predict that Trustmark will post 1.94 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc grew its position in shares of Trustmark by 2.6% in the 4th quarter. Legal & General Group Plc now owns 178,308 shares of the financial services provider’s stock valued at $5,788,000 after buying an additional 4,466 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Trustmark by 1.5% during the fourth quarter. Parametric Portfolio Associates LLC now owns 123,375 shares of the financial services provider’s stock worth $4,005,000 after purchasing an additional 1,842 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Trustmark by 1.4% during the fourth quarter. California State Teachers Retirement System now owns 86,647 shares of the financial services provider’s stock worth $2,813,000 after purchasing an additional 1,192 shares in the last quarter. Credit Suisse AG lifted its holdings in shares of Trustmark by 4.2% in the 4th quarter. Credit Suisse AG now owns 60,476 shares of the financial services provider’s stock valued at $1,964,000 after purchasing an additional 2,448 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Trustmark by 4.9% in the 4th quarter. Deutsche Bank AG now owns 40,578 shares of the financial services provider’s stock valued at $1,317,000 after purchasing an additional 1,904 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Several research firms recently commented on TRMK. Zacks Investment Research raised Trustmark from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a report on Tuesday, April 5th. StockNews.com initiated coverage on Trustmark in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

About Trustmark (Get Rating)

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.

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