Trustmark Corporation (NASDAQ:TRMK) Declares $0.25 Quarterly Dividend

Trustmark Corporation (NASDAQ:TRMK) declared a quarterly dividend on Tuesday, July 28th. Stockholders of record on Tuesday, September 1st will be given a dividend of 0.25 per share by the financial services provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 1st.

Trustmark has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Trustmark has a dividend payout ratio of 27.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Trustmark to earn $4.10 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 24.4%.

Trustmark Stock Performance

Shares of NASDAQ TRMK traded down $0.14 during mid-day trading on Wednesday, hitting $46.63. The company had a trading volume of 499,344 shares, compared to its average volume of 406,884. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. Trustmark has a 1 year low of $36.05 and a 1 year high of $48.00. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 12.33 and a beta of 0.65. The stock’s 50-day moving average price is $45.47 and its 200-day moving average price is $43.90.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The business had revenue of $213.38 million for the quarter, compared to analysts’ expectations of $210.30 million. During the same quarter in the prior year, the firm posted $0.92 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts forecast that Trustmark will post 3.92 earnings per share for the current year.

Hedge Funds Weigh In On Trustmark

A number of hedge funds and other institutional investors have recently bought and sold shares of TRMK. IFP Advisors Inc boosted its holdings in Trustmark by 24.1% in the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 267 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in Trustmark by 0.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 29,552 shares of the financial services provider’s stock valued at $1,151,000 after buying an additional 269 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Trustmark by 2.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,211 shares of the financial services provider’s stock valued at $430,000 after buying an additional 289 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Trustmark by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock valued at $1,955,000 after buying an additional 313 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Trustmark by 23.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,657 shares of the financial services provider’s stock worth $70,000 after buying an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.