Trustmark Corporation (NASDAQ:TRMK) Receives Average Recommendation of “Hold” from Brokerages

Trustmark Corporation (NASDAQ:TRMK) has been given an average recommendation of “Hold” by the five research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $39.80.

Several equities research analysts have commented on TRMK shares. Hovde Group boosted their target price on shares of Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, April 28th. Wall Street Zen cut shares of Trustmark from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Trustmark from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th.

Trustmark Trading Up 1.1%

Shares of NASDAQ TRMK opened at $38.59 on Friday. Trustmark has a twelve month low of $28.76 and a twelve month high of $40.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $35.17 and a 200-day simple moving average of $35.04. The stock has a market capitalization of $2.33 billion, a PE ratio of 10.05 and a beta of 0.66.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. The firm had revenue of $231.83 million during the quarter, compared to analysts’ expectations of $195.38 million. Trustmark had a return on equity of 10.29% and a net margin of 20.73%. On average, equities analysts forecast that Trustmark will post 3.42 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 2.49%. Trustmark’s dividend payout ratio is currently 25.00%.

Hedge Funds Weigh In On Trustmark

Hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp acquired a new position in shares of Trustmark in the 4th quarter worth approximately $37,000. Lazard Asset Management LLC purchased a new position in shares of Trustmark in the fourth quarter worth approximately $47,000. IFP Advisors Inc purchased a new position in shares of Trustmark in the first quarter worth approximately $51,000. State of Wyoming purchased a new position in shares of Trustmark in the first quarter worth approximately $52,000. Finally, GAMMA Investing LLC increased its position in shares of Trustmark by 41.0% in the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 526 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Company Profile

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.