Trustmark Co. (NASDAQ:TRMK) Given Consensus Recommendation of “Hold” by Brokerages

Trustmark Co. (NASDAQ:TRMK) has been assigned an average recommendation of “Hold” from the four ratings firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $29.67.

TRMK has been the topic of several research reports. TheStreet raised shares of Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. DA Davidson reissued a “neutral” rating on shares of Trustmark in a research report on Monday, January 15th. Piper Sandler reissued a “neutral” rating and issued a $29.00 price target on shares of Trustmark in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods boosted their price target on shares of Trustmark from $27.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Finally, StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Friday.

Hedge Funds Weigh In On Trustmark

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trexquant Investment LP grew its stake in Trustmark by 235.7% in the 3rd quarter. Trexquant Investment LP now owns 87,162 shares of the financial services provider’s stock worth $1,894,000 after buying an additional 61,194 shares in the last quarter. Ignite Planners LLC grew its stake in Trustmark by 924.4% in the 4th quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock worth $3,961,000 after buying an additional 128,623 shares in the last quarter. American Century Companies Inc. grew its stake in Trustmark by 28.8% in the 3rd quarter. American Century Companies Inc. now owns 372,172 shares of the financial services provider’s stock worth $8,087,000 after buying an additional 83,181 shares in the last quarter. MQS Management LLC purchased a new position in Trustmark in the 3rd quarter worth approximately $283,000. Finally, Envestnet Asset Management Inc. grew its stake in Trustmark by 244.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock worth $3,825,000 after buying an additional 124,890 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Stock Up 1.1 %

Trustmark stock opened at $25.73 on Friday. Trustmark has a fifty-two week low of $18.96 and a fifty-two week high of $28.65. The stock has a market cap of $1.57 billion, a PE ratio of 9.49 and a beta of 0.82. The firm’s 50-day simple moving average is $26.74 and its 200 day simple moving average is $25.27. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.85.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. The business had revenue of $189.85 million for the quarter, compared to analyst estimates of $187.63 million. Trustmark had a net margin of 15.06% and a return on equity of 10.77%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Research analysts predict that Trustmark will post 2.44 EPS for the current fiscal year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Thursday, February 29th. Trustmark’s dividend payout ratio (DPR) is presently 33.95%.

Trustmark Company Profile

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.