Trustmark (NASDAQ:TRMK) Earns Buy Rating from Analysts at Brean Capital

Brean Capital initiated coverage on shares of Trustmark (NASDAQ:TRMK) in a report released on Thursday morning. The firm issued a buy rating on the financial services provider’s stock.

A number of other research firms also recently weighed in on TRMK. Wall Street Zen downgraded Trustmark from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. Hovde Group lifted their price objective on shares of Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Finally, DA Davidson increased their target price on shares of Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.83.

Trustmark Stock Down 0.8%

Shares of TRMK opened at $40.85 on Thursday. The firm has a market cap of $2.40 billion, a P/E ratio of 11.01 and a beta of 0.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. Trustmark has a 52 week low of $29.77 and a 52 week high of $45.43. The firm’s 50-day simple moving average is $42.42 and its 200 day simple moving average is $40.39.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data 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 company had revenue of $209.44 million during the quarter, compared to analysts’ expectations of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same quarter in the previous year, the company posted $0.92 earnings per share. On average, analysts forecast that Trustmark will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st will be given a dividend of $0.25 per share. This is an increase from Trustmark’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, February 27th. Trustmark’s dividend payout ratio (DPR) is presently 26.95%.

Hedge Funds Weigh In On Trustmark

Several hedge funds and other institutional investors have recently modified their holdings of the business. Richardson Financial Services Inc. raised its holdings in shares of Trustmark by 86.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after buying an additional 345 shares in the last quarter. Blue Trust Inc. acquired a new stake in Trustmark in the fourth quarter valued at about $31,000. Meeder Asset Management Inc. acquired a new stake in Trustmark in the fourth quarter valued at about $36,000. Bessemer Group Inc. grew its position in Trustmark by 37.4% in the third quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 292 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Trustmark by 452.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,022 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

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.