Trustmark (NASDAQ:TRMK) Sets New 52-Week High – What’s Next?

Trustmark Corporation (NASDAQ:TRMK) reached a new 52-week high on Tuesday . The stock traded as high as $45.27 and last traded at $44.9070, with a volume of 7808 shares. The stock had previously closed at $43.99.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TRMK shares. Wall Street Zen cut Trustmark from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Hovde Group increased their target price on Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Finally, DA Davidson upped their price target on shares of Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.83.

Trustmark Stock Performance

The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 12.06 and a beta of 0.69. 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 stock has a 50-day moving average of $41.35 and a 200 day moving average of $39.76.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.06. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. The company had revenue of $209.44 million for the quarter, compared to analyst estimates of $207.05 million. During the same quarter last year, the firm earned $0.92 EPS. On average, analysts expect that Trustmark Corporation will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 2.2%. Trustmark’s payout ratio is currently 25.88%.

Institutional Trading of Trustmark

A number of hedge funds have recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Trustmark by 8.9% during the third quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after purchasing an additional 316,851 shares during the period. Geode Capital Management LLC boosted its position in shares of Trustmark by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,491,837 shares of the financial services provider’s stock worth $58,112,000 after purchasing an additional 9,198 shares in the last quarter. UBS Group AG boosted its position in shares of Trustmark by 282.0% during the fourth quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock worth $24,944,000 after purchasing an additional 472,751 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Trustmark by 30.5% in the 3rd quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock valued at $22,342,000 after buying an additional 132,023 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Trustmark by 17.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock valued at $16,236,000 after buying an additional 69,110 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

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.