Trustmark Corporation (NASDAQ:TRMK) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Trustmark Corporation (NASDAQ:TRMK) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $43.8333.

TRMK has been the subject of several research reports. Hovde Group raised their price objective on Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Wall Street Zen downgraded Trustmark from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, January 21st. DA Davidson boosted their price objective on Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Finally, Brean Capital began coverage on shares of Trustmark in a research note on Thursday. They set a “buy” rating for the company.

Hedge Funds Weigh In On Trustmark

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in shares of Trustmark by 7.3% in the third quarter. Federated Hermes Inc. now owns 369,109 shares of the financial services provider’s stock valued at $14,617,000 after purchasing an additional 25,164 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of Trustmark by 544.0% during the third quarter. HB Wealth Management LLC now owns 70,211 shares of the financial services provider’s stock valued at $2,780,000 after buying an additional 59,308 shares in the last quarter. Principal Financial Group Inc. raised its position in Trustmark by 9.8% during the third quarter. Principal Financial Group Inc. now owns 328,925 shares of the financial services provider’s stock valued at $13,025,000 after buying an additional 29,302 shares during the period. Squarepoint Ops LLC lifted its stake in Trustmark by 256.9% in the 2nd quarter. Squarepoint Ops LLC now owns 137,792 shares of the financial services provider’s stock worth $5,024,000 after acquiring an additional 99,189 shares in the last quarter. Finally, Barnes Pettey Financial Advisors LLC lifted its stake in Trustmark by 22.6% in the 2nd quarter. Barnes Pettey Financial Advisors LLC now owns 10,886 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 2,004 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark Stock Down 0.1%

TRMK stock opened at $41.16 on Friday. Trustmark has a 12 month low of $29.77 and a 12 month high of $45.43. The firm has a market cap of $2.42 billion, a PE ratio of 11.09 and a beta of 0.68. The firm has a 50 day simple moving average of $42.38 and a 200 day simple moving average of $40.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. The firm had revenue of $209.44 million for the quarter, compared to analyst estimates of $207.05 million. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. During the same quarter in the previous year, the business posted $0.92 earnings per share. Equities research analysts forecast that Trustmark will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be issued a dividend of $0.25 per share. This is an increase from Trustmark’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, February 27th. Trustmark’s dividend payout ratio (DPR) is presently 26.95%.

About Trustmark

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.