Trustmark Co. (NASDAQ:TRMK) Given Average Recommendation of “Hold” by Analysts

Trustmark Co. (NASDAQ:TRMK) has been assigned a consensus rating of “Hold” from the four ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $32.75.

Several research firms have issued reports on TRMK. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Truist Financial upped their price target on shares of Trustmark from $30.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 26th. Piper Sandler reaffirmed a “neutral” rating and set a $29.00 target price on shares of Trustmark in a report on Tuesday, March 26th. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Finally, Keefe, Bruyette & Woods upgraded Trustmark from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $30.00 to $36.00 in a research note on Thursday, April 25th.

Institutional Investors Weigh In On Trustmark

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its stake in Trustmark by 8.2% during the first quarter. Empowered Funds LLC now owns 182,179 shares of the financial services provider’s stock worth $5,121,000 after buying an additional 13,759 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Trustmark by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 53,449 shares of the financial services provider’s stock valued at $1,502,000 after purchasing an additional 716 shares during the period. Wakefield Asset Management LLLP acquired a new stake in Trustmark during the first quarter worth about $949,000. BNP Paribas Financial Markets raised its stake in Trustmark by 23.6% during the first quarter. BNP Paribas Financial Markets now owns 30,562 shares of the financial services provider’s stock worth $859,000 after purchasing an additional 5,834 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Trustmark by 5.9% in the 1st quarter. Principal Financial Group Inc. now owns 576,057 shares of the financial services provider’s stock valued at $16,193,000 after purchasing an additional 31,951 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Down 0.5 %

Shares of NASDAQ:TRMK opened at $30.71 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $27.30 and its 200 day moving average is $25.98. The stock has a market cap of $1.88 billion, a P/E ratio of 11.95 and a beta of 0.78. Trustmark has a 52-week low of $18.96 and a 52-week high of $31.23.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. The business had revenue of $288.55 million for the quarter, compared to the consensus estimate of $187.03 million. During the same quarter last year, the firm posted $0.82 EPS. Sell-side analysts predict that Trustmark will post 2.77 EPS for the current year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, May 31st. Trustmark’s payout ratio is 35.80%.

About Trustmark

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.