Trustmark (NASDAQ:TRMK) Hits New 12-Month High – Should You Buy?

Trustmark Corporation (NASDAQ:TRMK) shares hit a new 52-week high during trading on Thursday . The company traded as high as $42.80 and last traded at $42.64, with a volume of 317119 shares trading hands. The stock had previously closed at $40.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, October 8th. Wall Street Zen lowered Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.25.

Trustmark Stock Performance

The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 11.65 and a beta of 0.69. 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 stock’s 50 day moving average is $39.70 and its 200 day moving average is $39.14.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). Trustmark had a return on equity of 10.90% and a net margin of 19.82%.The company had revenue of $207.53 million for the quarter, compared to analyst estimates of $206.13 million. During the same quarter last year, the business earned $0.84 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, December 1st. Trustmark’s dividend payout ratio is currently 26.23%.

Institutional Investors Weigh In On Trustmark

A number of institutional investors have recently modified their holdings of the business. Richardson Financial Services Inc. increased its position in Trustmark by 86.7% during the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 345 shares during the period. Blue Trust Inc. acquired a new position in shares of Trustmark during the 4th quarter worth approximately $31,000. Bessemer Group Inc. increased its holdings in shares of Trustmark by 37.4% during the third quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 292 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of 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 buying an additional 1,022 shares during the period. Finally, IFP Advisors Inc grew its position in Trustmark by 24.1% during the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock worth $54,000 after buying an additional 267 shares in the last quarter. Institutional investors 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.