Trustmark Corporation (NASDAQ:TRMK) Receives Average Recommendation of “Moderate Buy” from Analysts

Trustmark Corporation (NASDAQ:TRMK) has been given a consensus rating of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $47.38.

TRMK has been the subject of several analyst reports. DA Davidson boosted their target price on Trustmark from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Weiss Ratings upgraded Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, August 14th. Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Piper Sandler lifted their price target on shares of Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Trustmark from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 16th.

Trustmark Trading Up 1.9%

Trustmark stock opened at $45.93 on Tuesday. Trustmark has a one year low of $36.33 and a one year high of $49.00. The company’s fifty day moving average price is $46.72 and its two-hundred day moving average price is $45.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 11.66 and a beta of 0.66.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $213.38 million during the quarter, compared to analysts’ expectations of $210.30 million. Trustmark had a return on equity of 10.69% and a net margin of 20.75%.The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. On average, analysts forecast that Trustmark will post 3.98 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, September 1st. Trustmark’s dividend payout ratio (DPR) is 25.38%.

Institutional Investors Weigh In On Trustmark

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Trustmark by 2.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,211 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 289 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Trustmark by 23.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,657 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 314 shares in the last quarter. Baird Financial Group Inc. raised its position in Trustmark by 3.5% in the 2nd quarter. Baird Financial Group Inc. now owns 10,409 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 355 shares during the last quarter. Nykredit A S bought a new position in Trustmark in the 2nd quarter valued at $29,000. Finally, Arlington Trust Co LLC boosted its stake in Trustmark by 12.1% in the second quarter. Arlington Trust Co LLC now owns 5,950 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 641 shares in the last quarter. 67.64% of the stock is currently 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 banking and financial services to individuals, businesses, and institutions.

Trustmark’s offerings include personal and business deposit accounts, consumer and commercial loans, mortgage lending, treasury management, online and mobile banking, and other traditional banking services. The company also provides wealth management, investment, trust, and brokerage services, as well as insurance products through affiliated operations.

Founded in 1889, Trustmark has developed a regional banking presence across the Southeast.