Trustmark Corporation (TRMK) Receives Average Recommendation of “Hold” from Analysts
Trustmark Corporation (NASDAQ:TRMK) has been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $34.50.
A number of research firms recently weighed in on TRMK. Zacks Investment Research downgraded Trustmark Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. ValuEngine raised Trustmark Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “hold” rating and set a $36.00 price target on shares of Trustmark Corporation in a research note on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $34.00 price target on shares of Trustmark Corporation in a research note on Thursday, October 26th.
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Trustmark Corporation (NASDAQ TRMK) traded up $0.12 during mid-day trading on Monday, reaching $32.46. The company had a trading volume of 135,943 shares, compared to its average volume of 291,640. Trustmark Corporation has a fifty-two week low of $28.16 and a fifty-two week high of $36.79. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2,200.00, a P/E ratio of 17.20 and a beta of 1.16.
Trustmark Corporation (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Trustmark Corporation had a return on equity of 8.21% and a net margin of 18.56%. The business had revenue of $153.37 million for the quarter, compared to the consensus estimate of $154.40 million. During the same period in the prior year, the business earned $0.47 EPS. equities analysts predict that Trustmark Corporation will post 1.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, November 30th. Trustmark Corporation’s dividend payout ratio (DPR) is presently 52.57%.
Several institutional investors have recently modified their holdings of TRMK. Earnest Partners LLC raised its stake in shares of Trustmark Corporation by 16.9% in the second quarter. Earnest Partners LLC now owns 2,026,880 shares of the financial services provider’s stock worth $65,184,000 after purchasing an additional 292,290 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Trustmark Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,509,048 shares of the financial services provider’s stock worth $175,133,000 after purchasing an additional 286,219 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Trustmark Corporation by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,033,036 shares of the financial services provider’s stock worth $161,864,000 after purchasing an additional 189,873 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Trustmark Corporation by 49.1% in the first quarter. Renaissance Technologies LLC now owns 363,904 shares of the financial services provider’s stock worth $11,569,000 after purchasing an additional 119,904 shares during the last quarter. Finally, State of Tennessee Treasury Department purchased a new stake in shares of Trustmark Corporation in the second quarter worth approximately $3,216,000. 62.37% of the stock is owned by hedge funds and other institutional investors.
Trustmark Corporation Company Profile
Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
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