Trustmark Corp (NASDAQ:TRMK) announced a quarterly dividend on Wednesday, October 24th, Wall Street Journal reports. Shareholders of record on Saturday, December 1st will be given a dividend of 0.23 per share by the financial services provider on Saturday, December 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, November 29th.
Trustmark has a payout ratio of 40.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Trustmark to earn $2.23 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 41.3%.
NASDAQ TRMK opened at $30.97 on Friday. Trustmark has a 12 month low of $28.56 and a 12 month high of $36.32. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 14.45 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.79 and a current ratio of 0.81.
Several equities research analysts recently commented on TRMK shares. SunTrust Banks cut their target price on Trustmark from $36.00 to $31.00 and set a “hold” rating on the stock in a research report on Monday, October 29th. BidaskClub upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, October 6th. ValuEngine upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. Stephens set a $35.00 target price on Trustmark and gave the company a “hold” rating in a research report on Wednesday, October 24th. Finally, Zacks Investment Research upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating, Trustmark has an average rating of “Hold” and a consensus price target of $34.50.
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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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.
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