Trustmark Corp. (NASDAQ:TRMK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $31.00 price target on the financial services provider’s stock. Zacks Investment Research’s price target would suggest a potential upside of 12.97% from the stock’s previous close.
According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “
Several other equities research analysts have also commented on TRMK. SunTrust Banks Inc. boosted their price objective on shares of Trustmark Corp. from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, June 9th. Jefferies Group reissued a “hold” rating and set a $25.00 price objective on shares of Trustmark Corp. in a research note on Thursday, July 7th. Finally, Keefe, Bruyette & Woods raised shares of Trustmark Corp. from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $23.00 to $25.00 in a research note on Thursday, July 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Trustmark Corp. presently has a consensus rating of “Hold” and an average target price of $26.75.
Trustmark Corp. (NASDAQ:TRMK) traded up 0.40% on Wednesday, reaching $27.55. 8,694 shares of the company traded hands. Trustmark Corp. has a 1-year low of $19.75 and a 1-year high of $28.71. The stock’s 50-day moving average is $27.69 and its 200-day moving average is $25.17. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 17.77 and a beta of 1.21.
Trustmark Corp. (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. Trustmark Corp. had a net margin of 17.44% and a return on equity of 7.47%. During the same quarter last year, the company earned $0.45 EPS. Equities research analysts expect that Trustmark Corp. will post $1.64 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.92 annualized dividend and a yield of 3.35%. Trustmark Corp.’s dividend payout ratio (DPR) is presently 59.36%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. boosted its position in Trustmark Corp. by 2.4% in the second quarter. Meeder Asset Management Inc. now owns 25,176 shares of the financial services provider’s stock valued at $626,000 after buying an additional 585 shares during the last quarter. Keel Point LLC bought a new position in Trustmark Corp. during the second quarter valued at $210,000. Alpha Windward LLC bought a new position in Trustmark Corp. during the second quarter valued at $409,000. BNP Paribas Arbitrage SA boosted its position in Trustmark Corp. by 544.5% in the second quarter. BNP Paribas Arbitrage SA now owns 43,294 shares of the financial services provider’s stock valued at $1,076,000 after buying an additional 36,577 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Trustmark Corp. by 19.3% in the first quarter. Royal Bank of Canada now owns 48,853 shares of the financial services provider’s stock valued at $1,126,000 after buying an additional 7,895 shares during the last quarter. 61.26% of the stock is owned by hedge funds and other institutional investors.
Trustmark Corp. Company Profile
Trustmark Corporation (Trustmark) is a bank holding company. Trustmark’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through approximately 205 offices in Alabama, Florida, Mississippi, Tennessee and Texas.
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