Trustmark Corporation (NASDAQ:TRMK) Given Average Rating of “Moderate Buy” by Brokerages

Trustmark Corporation (NASDAQ:TRMK) has been given an average rating of “Moderate Buy” by the six brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $43.8333.

Several brokerages have issued reports on TRMK. Brean Capital started coverage on Trustmark in a report on Thursday, March 12th. They set a “buy” rating for the company. DA Davidson upped their price objective on shares of Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Hovde Group upped their price target on shares of Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st.

Institutional Investors Weigh In On Trustmark

A number of hedge funds and other institutional investors have recently modified their holdings of TRMK. Federated Hermes Inc. raised its position in shares of Trustmark by 7.3% in the 3rd quarter. Federated Hermes Inc. now owns 369,109 shares of the financial services provider’s stock valued at $14,617,000 after buying an additional 25,164 shares in the last quarter. HB Wealth Management LLC lifted its stake in Trustmark by 544.0% during the third quarter. HB Wealth Management LLC now owns 70,211 shares of the financial services provider’s stock worth $2,780,000 after purchasing an additional 59,308 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Trustmark by 9.8% in the 3rd quarter. Principal Financial Group Inc. now owns 328,925 shares of the financial services provider’s stock valued at $13,025,000 after purchasing an additional 29,302 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Trustmark by 256.9% in the 2nd quarter. Squarepoint Ops LLC now owns 137,792 shares of the financial services provider’s stock valued at $5,024,000 after purchasing an additional 99,189 shares in the last quarter. Finally, Barnes Pettey Financial Advisors LLC increased its stake in shares of Trustmark by 22.6% in the 2nd quarter. Barnes Pettey Financial Advisors LLC now owns 10,886 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 2,004 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Performance

TRMK opened at $41.19 on Friday. Trustmark has a 12-month low of $29.77 and a 12-month high of $45.43. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 11.10 and a beta of 0.68. The business has a 50 day moving average of $42.46 and a 200-day moving average of $40.40. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06. The company had revenue of $209.44 million during the quarter, compared to the consensus estimate of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same period in the previous year, the company posted $0.92 EPS. On average, equities research analysts expect 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 was paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s payout ratio is currently 26.95%.

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.