Trustmark Corporation (NASDAQ:TRMK) Increases Dividend to $0.25 Per Share

Trustmark Corporation (NASDAQ:TRMK) announced a quarterly dividend on Tuesday, January 27th. Stockholders of record on Sunday, March 1st will be paid a dividend of 0.25 per share by the financial services provider on Sunday, March 15th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, February 27th. This is a 4.2% increase from Trustmark’s previous quarterly dividend of $0.24.

Trustmark has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Trustmark to earn $3.51 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 27.4%.

Trustmark Price Performance

Shares of TRMK traded up $0.65 during trading hours on Wednesday, reaching $41.79. 186,933 shares of the stock traded hands, compared to its average volume of 285,972. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. Trustmark has a 52-week low of $29.77 and a 52-week high of $43.29. The company’s 50-day moving average price is $40.00 and its two-hundred day moving average price is $39.23. The company has a market cap of $2.51 billion, a P/E ratio of 11.42 and a beta of 0.69.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The business had revenue of $209.44 million during the quarter, compared to analyst estimates of $207.05 million. Trustmark had a return on equity of 10.90% and a net margin of 19.82%.During the same quarter in the prior year, the business posted $0.92 EPS. On average, analysts anticipate that Trustmark will post 3.42 earnings per share for the current year.

Hedge Funds Weigh In On Trustmark

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in Trustmark by 8.9% during the third quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after acquiring an additional 316,851 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Trustmark by 1,927.6% in the 3rd quarter. Bridgeway Capital Management LLC now owns 152,067 shares of the financial services provider’s stock worth $6,022,000 after acquiring an additional 144,567 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Trustmark by 30.5% during the 3rd quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock worth $22,342,000 after purchasing an additional 132,023 shares during the period. Bank of America Corp DE grew its holdings in Trustmark by 80.4% during the 3rd quarter. Bank of America Corp DE now owns 267,147 shares of the financial services provider’s stock valued at $10,579,000 after purchasing an additional 119,044 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Trustmark by 75.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 272,067 shares of the financial services provider’s stock worth $9,920,000 after purchasing an additional 117,389 shares during the period. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Company Profile

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.