Trustmark Corporation (NASDAQ:TRMK) Receives Consensus Rating of “Hold” from Brokerages

Shares of Trustmark Corporation (NASDAQ:TRMK) have been given an average rating of “Hold” by the seven brokerages that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $46.1250.

TRMK has been the subject of several recent research reports. Wall Street Zen raised Trustmark from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. DA Davidson raised their price target on shares of Trustmark from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Piper Sandler upped their price objective on shares of Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised shares of Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, August 14th.

Trustmark Price Performance

TRMK stock opened at $45.83 on Friday. The company has a market capitalization of $2.66 billion, a P/E ratio of 11.63 and a beta of 0.64. The company has a fifty day moving average price of $46.80 and a 200-day moving average price of $44.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. Trustmark has a 52-week low of $36.33 and a 52-week high of $49.00.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $213.38 million for the quarter, compared to analysts’ expectations of $210.30 million. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. Trustmark’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, equities analysts expect that Trustmark will post 3.93 EPS for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. Trustmark’s dividend payout ratio (DPR) is 25.38%.

Institutional Investors Weigh In On Trustmark

Several large investors have recently added to or reduced their stakes in the business. Nykredit A S acquired a new position in Trustmark in the second quarter valued at approximately $29,000. Public Employees Retirement System of Ohio acquired a new position in shares of Trustmark during the 2nd quarter valued at $39,000. Rockefeller Capital Management L.P. boosted its stake in Trustmark by 1,129.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 779 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Trustmark in the fourth quarter worth $36,000. Finally, EverSource Wealth Advisors LLC increased its stake in 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 purchasing an additional 1,022 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

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.