Trustmark (NASDAQ:TRMK) Reaches New 1-Year High – Still a Buy?

Shares of Trustmark Corporation (NASDAQ:TRMK) reached a new 52-week high on Tuesday . The company traded as high as $45.27 and last traded at $44.9070, with a volume of 7808 shares. The stock had previously closed at $43.99.

Analyst Ratings Changes

Several research analysts have recently issued reports on TRMK shares. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. DA Davidson upped their price objective on shares of Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Wall Street Zen lowered Trustmark from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Finally, Hovde Group boosted their target price on Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.83.

Trustmark Stock Down 0.6%

The firm has a market capitalization of $2.67 billion, a PE ratio of 12.01 and a beta of 0.69. The business’s fifty day moving average price is $41.54 and its 200 day moving average price is $39.85. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The firm had revenue of $209.44 million for the quarter, compared to analyst estimates of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same quarter last year, the company posted $0.92 earnings per share. On average, equities research analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from Trustmark’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. Trustmark’s dividend payout ratio is presently 25.88%.

Hedge Funds Weigh In On Trustmark

Several institutional investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its stake in shares of Trustmark by 9.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 12,393 shares of the financial services provider’s stock worth $483,000 after acquiring an additional 1,090 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Trustmark during the fourth quarter worth about $207,000. Empowered Funds LLC raised its holdings in Trustmark by 107.6% during the fourth quarter. Empowered Funds LLC now owns 245,602 shares of the financial services provider’s stock worth $9,566,000 after purchasing an additional 127,284 shares in the last quarter. Voloridge Investment Management LLC lifted its position 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 purchasing an additional 3,146 shares during the period. Finally, Susquehanna Fundamental Investments LLC lifted its position in Trustmark by 174.7% in 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 during the period. 67.64% of the stock is owned by institutional investors and hedge funds.

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.