Trustmark Corporation (NASDAQ:TRMK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Trustmark Corporation (NASDAQ:TRMK) has been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $42.25.

TRMK has been the subject of several research reports. Wall Street Zen lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, October 8th.

Trustmark Stock Performance

TRMK opened at $42.64 on Thursday. The business has a 50 day moving average price of $39.70 and a two-hundred day moving average price of $39.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 11.65 and a beta of 0.69. Trustmark has a 1-year low of $29.77 and a 1-year high of $42.80.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Trustmark had a return on equity of 10.90% and a net margin of 19.82%.The firm had revenue of $207.53 million during the quarter, compared to the consensus estimate of $206.13 million. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts predict that Trustmark will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. Trustmark’s dividend payout ratio (DPR) is currently 26.23%.

Institutional Investors Weigh In On Trustmark

Several hedge funds have recently modified their holdings of the stock. Richardson Financial Services Inc. boosted its position in shares of Trustmark by 86.7% in the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 345 shares during the period. Blue Trust Inc. purchased a new stake in Trustmark during the fourth quarter valued at about $31,000. Bessemer Group Inc. boosted its holdings 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 during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Trustmark by 452.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,022 shares during the period. Finally, IFP Advisors Inc increased its position in shares of Trustmark by 24.1% in the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 267 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.