Trustmark (NASDAQ:TRMK) Hits New 1-Year High – Time to Buy?

Trustmark Corporation (NASDAQ:TRMK)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $41.43 and last traded at $40.97, with a volume of 30149 shares traded. The stock had previously closed at $40.67.

Analyst Ratings Changes

Several research analysts have commented on TRMK shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Finally, Zacks Research downgraded shares of Trustmark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.25.

Trustmark Trading Down 0.4%

The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 11.16 and a beta of 0.71. The firm’s 50-day moving average is $38.67 and its 200 day moving average is $38.29.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Trustmark had a net margin of 19.82% and a return on equity of 10.90%. The company had revenue of $207.53 million during the quarter, compared to the consensus estimate of $206.13 million. During the same quarter last year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, December 1st. Trustmark’s dividend payout ratio is currently 26.23%.

Hedge Funds Weigh In On Trustmark

Several hedge funds and other institutional investors have recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Trustmark in the second quarter valued at $241,000. Barnes Pettey Financial Advisors LLC raised its holdings in shares of Trustmark by 22.6% in the 2nd quarter. Barnes Pettey Financial Advisors LLC now owns 10,886 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 2,004 shares during the last quarter. Squarepoint Ops LLC lifted its position in Trustmark by 256.9% in the 2nd quarter. Squarepoint Ops LLC now owns 137,792 shares of the financial services provider’s stock valued at $5,024,000 after acquiring an additional 99,189 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Trustmark by 6.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 35,981 shares of the financial services provider’s stock valued at $1,311,000 after purchasing an additional 2,177 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Trustmark during the 2nd quarter worth approximately $606,000. Institutional investors and hedge funds 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.