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

Trustmark Corporation (NASDAQ:TRMK) has received a consensus rating of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $44.75.

A number of analysts have recently issued reports on TRMK shares. Piper Sandler boosted their target price on shares of Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $45.00 price target on shares of Trustmark in a research note on Thursday, April 9th. DA Davidson reiterated a “neutral” rating and set a $44.00 price objective on shares of Trustmark in a report on Wednesday, April 29th. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings upgraded shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 1st.

Trustmark Price Performance

Shares of TRMK stock opened at $46.73 on Thursday. The stock has a 50 day moving average price of $44.99 and a 200 day moving average price of $43.45. Trustmark has a 52-week low of $36.05 and a 52-week high of $47.44. 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 firm has a market capitalization of $2.74 billion, a P/E ratio of 12.36 and a beta of 0.65.

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

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.25 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. Trustmark’s payout ratio is presently 26.46%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc grew its holdings in shares of Trustmark by 24.1% during the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock valued at $54,000 after buying an additional 267 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in Trustmark by 0.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 29,552 shares of the financial services provider’s stock worth $1,151,000 after acquiring an additional 269 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Trustmark by 2.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,211 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 289 shares during the period. California State Teachers Retirement System lifted its position in Trustmark by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock worth $1,955,000 after acquiring an additional 313 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Trustmark by 23.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,657 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 314 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

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.