Trustmark (NASDAQ:TRMK) Sets New 1-Year High – Should You Buy?

Shares of Trustmark Corporation (NASDAQ:TRMK) reached a new 52-week high on Tuesday . The stock 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.

Wall Street Analysts Forecast Growth

TRMK has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. Hovde Group increased their target price on Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. DA Davidson raised their target price on shares of Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Finally, Wall Street Zen cut shares of Trustmark from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.83.

Trustmark Price Performance

The stock has a market cap of $2.68 billion, a P/E ratio of 12.06 and a beta of 0.69. The company has a 50 day simple moving average of $41.35 and a 200 day simple moving average of $39.76. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.06. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. The company had revenue of $209.44 million during the quarter, compared to analysts’ expectations of $207.05 million. During the same period last year, the business earned $0.92 EPS. Sell-side 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. Investors of record on Sunday, March 1st will be given a $0.25 dividend. 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%. The ex-dividend date of this dividend is Friday, February 27th. Trustmark’s dividend payout ratio (DPR) is presently 25.88%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in shares of Trustmark by 8.9% in the 3rd 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 last quarter. Geode Capital Management LLC increased its holdings in 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 buying an additional 9,198 shares during the last quarter. UBS Group AG raised its position in Trustmark by 282.0% during the fourth quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after acquiring an additional 472,751 shares in the last quarter. American Century Companies Inc. lifted its stake in Trustmark by 30.5% in the third quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock valued at $22,342,000 after acquiring an additional 132,023 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Trustmark by 17.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock valued at $16,236,000 after acquiring an additional 69,110 shares during the period. Institutional investors and hedge funds 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.