Trustmark (NASDAQ:TRMK) Hits New 12-Month High – What’s Next?

Trustmark Corporation (NASDAQ:TRMK)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $41.50 and last traded at $41.3640, with a volume of 126522 shares changing hands. The stock had previously closed at $41.17.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TRMK shares. Zacks Research downgraded Trustmark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Wall Street Zen downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.25.

Trustmark Trading Up 0.3%

The company’s fifty day moving average is $39.54 and its 200-day moving average is $39.08. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.48 billion, a P/E ratio of 11.29 and a beta of 0.69.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $207.53 million during the quarter, compared to the consensus estimate of $206.13 million. Trustmark had a return on equity of 10.90% and a net margin of 19.82%.The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. As a group, sell-side analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a dividend of $0.24 per share. The ex-dividend date was Monday, December 1st. This represents a $0.96 annualized dividend and a yield of 2.3%. Trustmark’s dividend payout ratio is presently 26.23%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. bought a new stake in shares of Trustmark in the fourth quarter valued at approximately $31,000. Wedge Capital Management L L P NC increased its position in Trustmark by 0.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 29,552 shares of the financial services provider’s stock worth $1,151,000 after acquiring an additional 269 shares during the period. Exchange Traded Concepts LLC acquired a new position in Trustmark during the 4th quarter valued at $76,000. SG Americas Securities LLC boosted its holdings in Trustmark by 62.0% in the 4th quarter. SG Americas Securities LLC now owns 36,353 shares of the financial services provider’s stock valued at $1,416,000 after purchasing an additional 13,909 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Trustmark by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 187,584 shares of the financial services provider’s stock valued at $7,428,000 after purchasing an additional 18,400 shares during the period. 67.64% of the stock is owned by institutional investors.

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.