Trustmark (NASDAQ:TRMK) Receives Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of Trustmark (NASDAQ:TRMK) in a research report released on Thursday morning, Marketbeat reports. The firm currently has a $45.00 target price on the financial services provider’s stock.

A number of other analysts also recently issued reports on TRMK. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. DA Davidson increased their price target on shares of Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Brean Capital assumed coverage on shares of Trustmark in a report on Thursday, March 12th. They set a “buy” rating on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Finally, Hovde Group increased their price target on shares of Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.50.

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $45.35 on Thursday. The company’s fifty day moving average price is $42.93 and its 200 day moving average price is $40.65. Trustmark has a 1 year low of $30.05 and a 1 year high of $45.55. The company has a market capitalization of $2.67 billion, a PE ratio of 12.22 and a beta of 0.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89.

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

Trustmark Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st were paid a $0.25 dividend. This is an increase from Trustmark’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, February 27th. Trustmark’s payout ratio is 26.95%.

Hedge Funds Weigh In On Trustmark

Hedge funds and other institutional investors have recently modified their holdings of the business. Richardson Financial Services Inc. lifted its stake in shares of Trustmark by 86.7% in the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after buying an additional 345 shares in the last quarter. Blue Trust Inc. purchased a new position in shares of Trustmark in the fourth quarter worth about $31,000. Rockefeller Capital Management L.P. lifted its stake in shares of Trustmark by 1,129.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock worth $33,000 after buying an additional 779 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Trustmark in the fourth quarter worth about $36,000. Finally, Bessemer Group Inc. lifted its stake in shares of Trustmark by 37.4% in the third quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock worth $42,000 after buying an additional 292 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Company Profile

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.