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

Trustmark Co. (NASDAQ:TRMK – Get Rating) declared a quarterly dividend on Tuesday, April 26th, Zacks reports. Investors 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 3.14%. The ex-dividend date is Tuesday, May 31st.

Trustmark has a payout ratio of 39.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Trustmark to earn $2.41 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 38.2%.

TRMK stock opened at $29.30 on Friday. The company has a 50 day simple moving average of $29.18 and a 200 day simple moving average of $31.37. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 14.72 and a beta of 0.90. Trustmark has a 1 year low of $26.67 and a 1 year high of $35.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.79.

Trustmark (NASDAQ:TRMK – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08. The business had revenue of $156.46 million during the quarter, compared to analysts’ expectations of $152.45 million. Trustmark had a net margin of 18.77% and a return on equity of 7.74%. During the same period in the prior year, the company earned $0.82 EPS. On average, equities research analysts anticipate that Trustmark will post 2.08 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of TRMK. Royal Bank of Canada grew its holdings in Trustmark by 5.1% during the 3rd quarter. Royal Bank of Canada now owns 16,734 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 817 shares during the last quarter. Jane Street Group LLC grew its holdings in Trustmark by 15.6% during the 3rd quarter. Jane Street Group LLC now owns 14,344 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 1,934 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Trustmark during the 3rd quarter worth approximately $206,000. Goldman Sachs Group Inc. boosted its stake in shares of Trustmark by 1.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 696,128 shares of the financial services provider’s stock valued at $22,597,000 after purchasing an additional 12,061 shares during the last quarter. Finally, Credit Suisse AG increased its position in shares of Trustmark by 4.2% during the fourth quarter. Credit Suisse AG now owns 60,476 shares of the financial services provider’s stock worth $1,964,000 after buying an additional 2,448 shares during the period. 73.72% of the stock is currently owned by hedge funds and other institutional investors.

TRMK has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of Trustmark in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research raised shares of 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. Finally, Truist Financial reduced their target price on shares of Trustmark from $35.00 to $30.00 in a report on Monday, May 2nd.

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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