Trustmark (NASDAQ:TRMK) Hits New 12-Month High – Still a Buy?

Shares of Trustmark Corporation (NASDAQ:TRMK) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $46.83 and last traded at $46.8890, with a volume of 210961 shares trading hands. The stock had previously closed at $46.01.

Analysts Set New Price Targets

A number of research firms have weighed in on TRMK. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $45.00 price target on shares of Trustmark in a research note on Thursday, April 9th. DA Davidson reissued a “neutral” rating and issued a $44.00 price objective on shares of Trustmark in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Brean Capital started coverage on shares of Trustmark in a research report on Thursday, March 12th. They set a “buy” rating on the stock. Finally, Weiss Ratings raised shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $44.75.

Trustmark Price Performance

The business has a fifty day moving average of $44.66 and a two-hundred day moving average of $43.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 12.47 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.08. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The business had revenue of $208.07 million during the quarter, compared to the consensus estimate of $204.98 million. During the same quarter last year, the firm posted $0.88 EPS. As a group, research analysts predict that Trustmark Corporation will post 3.92 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, June 1st. Trustmark’s dividend payout ratio (DPR) is currently 26.46%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in Trustmark by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,897,556 shares of the financial services provider’s stock worth $164,244,000 after acquiring an additional 20,628 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Trustmark by 8.9% in the third quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after purchasing an additional 316,851 shares during the last quarter. North Reef Capital Management LP bought a new position in shares of Trustmark during the first quarter worth approximately $82,296,000. Geode Capital Management LLC increased its stake in shares of Trustmark by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,491,837 shares of the financial services provider’s stock worth $58,112,000 after purchasing an additional 9,198 shares during the period. Finally, UBS Group AG lifted its holdings in Trustmark by 282.0% during the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after purchasing an additional 472,751 shares during the last quarter. 67.64% of the stock is owned by 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.