Trustmark (TRMK) Declares $0.23 Dividend
Trustmark said on April 25, 2023 that its board of directors declared a regular quarterly dividend of $0.23 per share ($0.92 annualized). Previously, the company paid $0.23 per share.
Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.
At the current share price of $23.08 / share, the stock's dividend yield is 3.99%. Looking back five years and taking a sample every week, the average dividend yield has been 3.04%, the lowest has been 2.47%, and the highest has been 4.34%. The standard deviation of yields is 0.44 (n=236).
The current dividend yield is 2.15 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.60. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 536 funds or institutions reporting positions in Trustmark. This is an increase of 42 owner(s) or 8.50% in the last quarter. Average portfolio weight of all funds dedicated to TRMK is 0.12%, an increase of 13.96%. Total shares owned by institutions increased in the last three months by 0.71% to 46,810K shares. 
The put/call ratio of TRMK is 7.33, indicating a bearish outlook.
Analyst Price Forecast Suggests 27.43% Upside
As of April 24, 2023, the average one-year price target for Trustmark is 29.41. The forecasts range from a low of 27.27 to a high of $35.70. The average price target represents an increase of 27.43% from its latest reported closing price of 23.08.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Trustmark is 810MM, an increase of 14.02%. The projected annual non-GAAP EPS is 3.16.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,869K shares representing 6.34% ownership of the company. No change in the last quarter.
Earnest Partners holds 3,690K shares representing 6.05% ownership of the company. In it's prior filing, the firm reported owning 3,610K shares, representing an increase of 2.17%. The firm increased its portfolio allocation in TRMK by 6.30% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,668K shares representing 2.74% ownership of the company. In it's prior filing, the firm reported owning 1,668K shares, representing an increase of 0.03%. The firm increased its portfolio allocation in TRMK by 5.28% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,413K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 1,399K shares, representing an increase of 1.03%. The firm increased its portfolio allocation in TRMK by 6.61% over the last quarter.
IWM - iShares Russell 2000 ETF holds 1,342K shares representing 2.20% ownership of the company. No change in the last quarter.
Trustmark Background Information
(This description is provided by the company.)
Trustmark is a financial services company providing banking and financial solutions through 187 offices in Alabama, Florida, Mississippi, Tennessee and Texas.
This story originally appeared on Fintel.