Trustmark Corporation (NASDAQ:TRMK) Receives Average Recommendation of “Hold” from Analysts

Trustmark Corporation (NASDAQ:TRMK) has earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $44.75.

Several research analysts have recently weighed in on the company. Hovde Group increased their price target on Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Piper Sandler increased their price objective on Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Brean Capital began coverage on Trustmark in a report on Thursday, March 12th. They set a “buy” rating on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Trustmark in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 price objective on shares of Trustmark in a report on Thursday, April 9th.

Trustmark Stock Up 0.9%

TRMK stock opened at $44.78 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 11.85 and a beta of 0.66. Trustmark has a fifty-two week low of $33.39 and a fifty-two week high of $45.99. The stock has a fifty day moving average of $43.64 and a 200-day moving average of $41.92.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. The company had revenue of $208.07 million during the quarter, compared to the consensus estimate of $204.98 million. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.During the same quarter in the prior year, the company earned $0.88 EPS. As a group, equities research analysts predict that Trustmark will post 3.92 earnings per share for the current year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Trustmark’s dividend payout ratio is 26.46%.

Institutional Trading of Trustmark

Institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its holdings in Trustmark by 7.3% during the 3rd quarter. Federated Hermes Inc. now owns 369,109 shares of the financial services provider’s stock worth $14,617,000 after purchasing an additional 25,164 shares in the last quarter. Clark Capital Management Group Inc. lifted its holdings in Trustmark by 13.5% during the 3rd quarter. Clark Capital Management Group Inc. now owns 352,468 shares of the financial services provider’s stock worth $13,958,000 after purchasing an additional 42,032 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Trustmark by 9.8% during the 3rd quarter. Principal Financial Group Inc. now owns 328,925 shares of the financial services provider’s stock worth $13,025,000 after purchasing an additional 29,302 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Trustmark by 29.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 266,557 shares of the financial services provider’s stock worth $10,556,000 after purchasing an additional 60,340 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Trustmark by 282.0% during the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after purchasing an additional 472,751 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

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.