Trustmark Corporation (NASDAQ:TRMK) Given Average Rating of “Hold” by Brokerages

Trustmark Corporation (NASDAQ:TRMK) has been assigned an average rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $43.8333.

TRMK has been the topic of a number of recent research reports. 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Wall Street Zen lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Finally, DA Davidson increased 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.

Institutional Trading of Trustmark

A number of hedge funds have recently bought and sold shares of TRMK. Royal Bank of Canada grew its stake in Trustmark by 27.0% in the 1st quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider’s stock valued at $764,000 after purchasing an additional 4,701 shares during the period. AQR Capital Management LLC grew its position in Trustmark by 230.8% during the first quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider’s stock valued at $3,327,000 after buying an additional 67,841 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Trustmark by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,217 shares of the financial services provider’s stock worth $1,249,000 after buying an additional 1,592 shares during the last quarter. Millennium Management LLC raised its position in Trustmark by 12.4% in the first quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider’s stock worth $6,817,000 after acquiring an additional 21,866 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Trustmark by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock worth $16,236,000 after acquiring an additional 69,110 shares during the period. 67.64% of the stock is currently owned by institutional investors.

Trustmark Stock Performance

TRMK opened at $44.73 on Monday. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 12.06 and a beta of 0.69. The company’s fifty day moving average price is $41.23 and its two-hundred day moving average price is $39.71. Trustmark has a 1-year low of $29.77 and a 1-year high of $44.96. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last posted its 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 company had revenue of $209.44 million for the quarter, compared to analyst estimates of $207.05 million. During the same quarter in the prior year, the business posted $0.92 EPS. On average, analysts expect that Trustmark will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, February 27th. This is a boost from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s dividend payout ratio (DPR) is presently 25.88%.

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.