Trustmark Corporation (NASDAQ:TRMK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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

TRMK has been the topic of a number of research reports. Brean Capital began coverage on shares of Trustmark in a report on Thursday, March 12th. They set a “buy” rating on the stock. DA Davidson boosted their price target on shares of Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. Hovde Group increased their price objective on Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Finally, Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, March 14th.

Trustmark Stock Performance

NASDAQ TRMK opened at $40.94 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. The company has a market cap of $2.41 billion, a P/E ratio of 11.04 and a beta of 0.68. The stock has a 50-day moving average of $42.48 and a two-hundred day moving average of $40.40. Trustmark has a 1-year low of $29.77 and a 1-year high of $45.43.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. The business had revenue of $209.44 million for the quarter, compared to analysts’ expectations of $207.05 million. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. During the same quarter in the prior year, the company earned $0.92 earnings per share. As a group, analysts anticipate that Trustmark will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, February 27th. This is a boost from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s dividend payout ratio (DPR) is 26.95%.

Institutional Trading of Trustmark

A number of large investors have recently made changes to their positions in the company. Federated Hermes Inc. grew 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 acquiring an additional 25,164 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Trustmark by 544.0% in the 3rd quarter. HB Wealth Management LLC now owns 70,211 shares of the financial services provider’s stock valued at $2,780,000 after purchasing an additional 59,308 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Trustmark by 9.8% in the 3rd quarter. Principal Financial Group Inc. now owns 328,925 shares of the financial services provider’s stock valued at $13,025,000 after purchasing an additional 29,302 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Trustmark by 256.9% during the 2nd quarter. Squarepoint Ops LLC now owns 137,792 shares of the financial services provider’s stock worth $5,024,000 after purchasing an additional 99,189 shares during the last quarter. Finally, Barnes Pettey Financial Advisors LLC grew its stake in shares of Trustmark by 22.6% during the second quarter. Barnes Pettey Financial Advisors LLC now owns 10,886 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 2,004 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

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.