Trustmark Co. (NASDAQ:TRMK) Given Average Rating of “Hold” by Brokerages

Shares of Trustmark Co. (NASDAQ:TRMK) have earned a consensus recommendation of “Hold” from the five analysts that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $40.60.

A number of research analysts have recently weighed in on TRMK shares. DA Davidson raised their price objective on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods boosted their price target on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Janney Montgomery Scott assumed coverage on Trustmark in a research note on Friday, January 24th. They set a “buy” rating and a $42.00 price objective on the stock.

Institutional Trading of Trustmark

A number of hedge funds have recently added to or reduced their stakes in TRMK. Ballew Advisors Inc lifted its holdings in shares of Trustmark by 12.5% during the 1st quarter. Ballew Advisors Inc now owns 11,081 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 1,231 shares during the period. SG Americas Securities LLC acquired a new position in shares of Trustmark in the 1st quarter valued at $508,000. GAMMA Investing LLC grew its stake in shares of Trustmark by 41.0% during the 1st quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider’s stock valued at $62,000 after buying an additional 526 shares during the period. Wedge Capital Management L L P NC raised its position in shares of Trustmark by 12.1% in the 1st quarter. Wedge Capital Management L L P NC now owns 29,905 shares of the financial services provider’s stock worth $1,031,000 after buying an additional 3,228 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Trustmark by 82.2% in the fourth quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider’s stock valued at $87,454,000 after acquiring an additional 1,115,708 shares during the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Trading Down 0.2 %

Shares of Trustmark stock opened at $32.69 on Tuesday. The company has a 50-day moving average of $34.30 and a two-hundred day moving average of $35.61. The stock has a market cap of $1.99 billion, a PE ratio of 8.98 and a beta of 0.67. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark has a 12-month low of $26.65 and a 12-month high of $40.73.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. On average, research analysts anticipate that Trustmark will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a $0.24 dividend. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Friday, February 28th. Trustmark’s dividend payout ratio is presently 26.37%.

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.