Trustmark Corporation (NASDAQ:TRMK) Receives Consensus Rating of “Hold” from Brokerages

Shares of Trustmark Corporation (NASDAQ:TRMK) have received a consensus rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $46.1250.

Several brokerages have recently issued reports on TRMK. Weiss Ratings raised Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. DA Davidson increased their price target on shares of Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, Piper Sandler raised their price objective on shares of Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th.

Institutional Investors Weigh In On Trustmark

Large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Trustmark in the second quarter valued at approximately $395,920,000. North Reef Capital Management LP bought a new position in Trustmark during the first quarter valued at $82,296,000. Bank of New York Mellon Corp purchased a new stake in Trustmark in the second quarter worth $22,676,000. UBS Group AG increased its position in Trustmark by 282.0% in the fourth quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after buying an additional 472,751 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake 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 buying an additional 316,851 shares during the period. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Stock Performance

TRMK stock opened at $48.29 on Monday. The firm has a market cap of $2.80 billion, a PE ratio of 12.26 and a beta of 0.65. 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 business has a 50 day moving average of $46.45 and a 200-day moving average of $44.54. Trustmark has a 12-month low of $36.33 and a 12-month high of $49.00.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Trustmark had a return on equity of 10.69% and a net margin of 20.75%.The business had revenue of $213.38 million for the quarter, compared to analyst estimates of $210.30 million. During the same period last year, the company posted $0.92 earnings per share. Trustmark’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that Trustmark will post 3.93 earnings per share for the current year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, September 1st. Trustmark’s payout ratio is presently 25.38%.

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.