Trustmark Corporation (NASDAQ:TRMK) Receives Consensus Recommendation of “Hold” from Analysts

Trustmark Corporation (NASDAQ:TRMK) has received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat 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 updated their coverage on the stock in the last year is $44.75.

Several analysts recently weighed in on the company. DA Davidson reissued a “neutral” rating and set a $44.00 price target on shares of Trustmark in a report on Wednesday, April 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $45.00 price objective on shares of Trustmark in a research report on Thursday, April 9th. Wall Street Zen raised Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings raised shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Finally, Piper Sandler upped their price target on shares of Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a research note on Thursday, April 30th.

Trustmark Stock Down 0.8%

Shares of TRMK opened at $46.27 on Thursday. The firm has a market cap of $2.71 billion, a P/E ratio of 12.24 and a beta of 0.65. 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 $36.05 and a 52 week high of $48.00. The firm’s 50-day simple moving average is $45.25 and its 200 day simple moving average is $43.71.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The company had revenue of $208.07 million during the quarter, compared to analysts’ expectations of $204.98 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. On average, analysts forecast that Trustmark will post 3.92 earnings per share for the current year.

Trustmark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Trustmark’s payout ratio is currently 26.46%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. acquired a new stake in Trustmark during the fourth quarter worth approximately $31,000. Rockefeller Capital Management L.P. lifted its position in shares of Trustmark by 1,129.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 779 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Trustmark during the 4th quarter worth $36,000. EverSource Wealth Advisors LLC grew its holdings in shares of Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,022 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of Trustmark by 24.1% in the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 267 shares during the period. 67.64% of the stock is owned by institutional investors.

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.