Trustmark Corporation (NASDAQ:TRMK) Receives Consensus Rating of “Hold” from Analysts

Shares of Trustmark Corporation (NASDAQ:TRMK) have been assigned an average rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $44.75.

Several research analysts recently weighed in on the company. DA Davidson reiterated a “neutral” rating and set a $44.00 price target on shares of Trustmark in a research report on Wednesday, April 29th. Brean Capital assumed coverage on Trustmark in a research report on Thursday, March 12th. They set a “buy” rating for the company. Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $45.00 price objective on shares of Trustmark in a research report on Thursday, April 9th. Finally, Weiss Ratings upgraded Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st.

Hedge Funds Weigh In On Trustmark

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its holdings in Trustmark by 24.1% in the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 267 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Trustmark by 0.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 29,552 shares of the financial services provider’s stock valued at $1,151,000 after acquiring an additional 269 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Trustmark by 2.9% in the first quarter. PNC Financial Services Group Inc. now owns 10,211 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 289 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Trustmark by 0.6% in the second quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock valued at $1,955,000 after acquiring an additional 313 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Trustmark by 23.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,657 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 314 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Performance

Trustmark stock opened at $44.67 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Trustmark has a 52 week low of $33.84 and a 52 week high of $46.34. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 11.82 and a beta of 0.65. The stock has a 50-day moving average price of $44.49 and a 200 day moving average price of $42.67.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The firm had revenue of $208.07 million during the quarter, compared to the consensus estimate of $204.98 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. Sell-side analysts anticipate that Trustmark will post 3.92 EPS for the current year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. Trustmark’s payout ratio is currently 26.46%.

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.