Trustmark Corporation (NASDAQ:TRMK – Get Free Report) announced a quarterly dividend on Tuesday, October 27th. Investors of record on Tuesday, December 1st will be given a dividend of $0.25 per share by the financial services provider on Tuesday, December 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, December 1st.
Trustmark has a payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Trustmark to earn $4.33 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 23.1%.
Trustmark Stock Down 2.9%
NASDAQ:TRMK traded down $1.32 during midday trading on Wednesday, hitting $44.80. The stock had a trading volume of 18,826 shares, compared to its average volume of 392,437. Trustmark has a one year low of $36.41 and a one year high of $49.00. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 11.37 and a beta of 0.66. The stock has a 50-day moving average of $45.86 and a 200 day moving average of $44.66.
Trustmark (NASDAQ:TRMK – Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $1.00 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.00. The business had revenue of $212.26 million during the quarter, compared to analyst estimates of $215.04 million. During the same period in the previous year, the business earned $0.94 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Trustmark will post 3.97 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
TRMK has been the topic of a number of research reports. Piper Sandler upped their price target on Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, August 14th. DA Davidson boosted their price objective on Trustmark from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods increased their price objective on shares of Trustmark from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, September 16th. Finally, Wall Street Zen raised Trustmark from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $47.38.
Get Our Latest Report on Trustmark
Trustmark Company Profile
Trustmark Corporation (NASDAQ: TRMK) is a financial services company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides banking, wealth management and insurance services to individuals, businesses and institutional clients.
Trustmark’s banking activities include deposit accounts, consumer and commercial lending, mortgages, treasury management and other financial services. Its wealth management business offers trust, investment management, financial planning and related services, while its insurance operations provide personal and commercial insurance products.
Founded in 1889, Trustmark serves customers through banking and financial services operations in Mississippi, Alabama, Florida, Tennessee and Texas.
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