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

Trustmark Corporation (NASDAQ:TRMK) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $43.8333.

A number of equities analysts have recently weighed in on TRMK shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. DA Davidson raised their target price on Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Brean Capital initiated coverage on Trustmark in a report on Thursday, March 12th. They set a “buy” rating on the stock. Finally, Hovde Group raised their target price on Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a report on Thursday, January 29th.

Hedge Funds Weigh In On Trustmark

Several institutional investors have recently bought and sold shares of TRMK. UBS Group AG raised its holdings in Trustmark by 282.0% during the fourth quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock valued at $24,944,000 after buying an additional 472,751 shares in the last quarter. Wellington Management Group LLP raised its holdings in 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 buying an additional 316,851 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in Trustmark by 156.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 389,333 shares of the financial services provider’s stock valued at $15,165,000 after buying an additional 237,266 shares in the last quarter. American Century Companies Inc. raised its holdings in Trustmark by 30.5% during the third quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock valued at $22,342,000 after buying an additional 132,023 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Trustmark by 107.6% during the fourth quarter. Empowered Funds LLC now owns 245,602 shares of the financial services provider’s stock valued at $9,566,000 after buying an additional 127,284 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors.

Trustmark Trading Up 1.2%

NASDAQ TRMK opened at $43.09 on Tuesday. Trustmark has a 1-year low of $29.77 and a 1-year high of $45.43. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $2.54 billion, a PE ratio of 11.61 and a beta of 0.65. The firm’s fifty day simple moving average is $42.78 and its 200-day simple moving average is $40.57.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share 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 business 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 business posted $0.92 earnings per share. As a group, sell-side analysts anticipate that Trustmark will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.3%. This is an increase from Trustmark’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, February 27th. Trustmark’s dividend payout ratio is 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.