Trustmark (NASDAQ:TRMK) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Trustmark (NASDAQ:TRMK) from a sell rating to a hold rating in a report issued on Saturday.

Other analysts also recently issued reports about the stock. Brean Capital began coverage on shares of Trustmark in a research report on Thursday. They issued a “buy” rating on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Hovde Group increased their target price on shares of Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Finally, DA Davidson boosted their price target on shares of Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.83.

Trustmark Price Performance

Shares of TRMK stock opened at $40.85 on Friday. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 11.01 and a beta of 0.68. Trustmark has a 12 month low of $29.77 and a 12 month high of $45.43. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $42.42 and a 200 day moving average price of $40.39.

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

Trustmark Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. This is a boost from Trustmark’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 27th. Trustmark’s dividend payout ratio (DPR) is presently 26.95%.

Institutional Investors Weigh In On Trustmark

A number of institutional investors have recently made changes to their positions in TRMK. Mercer Global Advisors Inc. ADV increased its holdings in shares of Trustmark by 9.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,393 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 1,090 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of Trustmark during the 4th quarter worth approximately $207,000. Empowered Funds LLC increased its stake in Trustmark by 107.6% in the fourth quarter. Empowered Funds LLC now owns 245,602 shares of the financial services provider’s stock valued at $9,566,000 after acquiring an additional 127,284 shares during the last quarter. Voloridge Investment Management LLC increased its stake in Trustmark by 2.8% in the fourth quarter. Voloridge Investment Management LLC now owns 114,257 shares of the financial services provider’s stock valued at $4,450,000 after acquiring an additional 3,146 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its position in Trustmark by 174.7% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 23,981 shares of the financial services provider’s stock valued at $934,000 after purchasing an additional 15,251 shares in the last quarter. Institutional investors 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.