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

Trustmark Corporation (NASDAQ:TRMK) has been assigned a consensus rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $43.8333.

Several brokerages recently commented on TRMK. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Hovde Group upped their price objective on shares of Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a research note on Thursday, January 29th. DA Davidson boosted their target price on shares of Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Finally, Wall Street Zen downgraded Trustmark from a “hold” rating to a “sell” rating in a report on Saturday, January 17th.

Trustmark Price Performance

TRMK stock opened at $44.73 on Monday. The company has a market capitalization of $2.68 billion, a P/E ratio of 12.06 and a beta of 0.69. The company has a fifty day moving average price of $41.23 and a 200-day moving average price of $39.71. 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 has a 52-week low of $29.77 and a 52-week high of $44.96.

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

Trustmark Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be given a dividend of $0.25 per share. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. Trustmark’s payout ratio is 25.88%.

Institutional Investors Weigh In On Trustmark

A number of large investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new position in shares of Trustmark during the fourth quarter valued at about $55,000. Magnolia Capital Advisors LLC grew its stake in shares of Trustmark by 15.7% in the 4th quarter. Magnolia Capital Advisors LLC now owns 49,205 shares of the financial services provider’s stock valued at $1,917,000 after buying an additional 6,665 shares during the period. Wells Fargo & Company MN increased its position in Trustmark by 10.5% in the 4th quarter. Wells Fargo & Company MN now owns 186,760 shares of the financial services provider’s stock valued at $7,274,000 after buying an additional 17,773 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Trustmark by 5,538.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,496 shares of the financial services provider’s stock worth $136,000 after buying an additional 3,434 shares during the period. Finally, HRT Financial LP boosted its holdings in Trustmark by 24.6% in the fourth quarter. HRT Financial LP now owns 45,044 shares of the financial services provider’s stock worth $1,754,000 after acquiring an additional 8,899 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

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.