Trustmark (NASDAQ:TRMK) Sets New 1-Year High – What’s Next?

Shares of Trustmark Corporation (NASDAQ:TRMK) reached a new 52-week high on Thursday . The company traded as high as $42.80 and last traded at $42.64, with a volume of 317119 shares traded. The stock had previously closed at $40.39.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TRMK shares. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday. Wall Street Zen lowered Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Trustmark presently has a consensus rating of “Hold” and an average price target of $42.33.

Trustmark Trading Down 4.0%

The stock has a 50-day moving average of $39.84 and a two-hundred day moving average of $39.18. The company has a market cap of $2.45 billion, a P/E ratio of 11.15 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.88.

Trustmark (NASDAQ:TRMK) last released its earnings results 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 company had revenue of $207.53 million during the quarter, compared to analysts’ expectations of $206.13 million. During the same period in the prior year, the company posted $0.84 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, December 1st. Trustmark’s dividend payout ratio (DPR) is currently 26.23%.

Institutional Investors Weigh In On Trustmark

A number of institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Trustmark by 8.9% during the third quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after acquiring an additional 316,851 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in Trustmark by 1,927.6% during the 3rd quarter. Bridgeway Capital Management LLC now owns 152,067 shares of the financial services provider’s stock valued at $6,022,000 after purchasing an additional 144,567 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Trustmark by 30.5% in the 3rd quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock worth $22,342,000 after purchasing an additional 132,023 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Trustmark by 80.4% in the 3rd quarter. Bank of America Corp DE now owns 267,147 shares of the financial services provider’s stock worth $10,579,000 after purchasing an additional 119,044 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Trustmark by 75.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 272,067 shares of the financial services provider’s stock worth $9,920,000 after purchasing an additional 117,389 shares during the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

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.