Trustmark (NASDAQ:TRMK) Hits New 1-Year High – What’s Next?

Shares of Trustmark Corporation (NASDAQ:TRMK) 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.

Analyst Ratings Changes

Several research firms recently weighed in on TRMK. Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.25.

Trustmark Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.87. The company’s 50-day moving average price is $39.70 and its 200-day moving average price is $39.14. The company has a market cap of $2.56 billion, a P/E ratio of 11.65 and a beta of 0.69.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $207.53 million during the quarter, compared to analyst estimates of $206.13 million. Trustmark had a return on equity of 10.90% and a net margin of 19.82%.Trustmark’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. As a group, sell-side analysts predict that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, December 1st. Trustmark’s dividend payout ratio (DPR) is currently 26.23%.

Institutional Trading of Trustmark

A number of institutional investors have recently made changes to their positions in TRMK. Richardson Financial Services Inc. boosted its stake in shares of Trustmark by 86.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after buying an additional 345 shares during the last quarter. Blue Trust Inc. acquired a new position in Trustmark during the fourth quarter valued at approximately $31,000. Bessemer Group Inc. grew its stake in Trustmark by 37.4% in the third quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 292 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,022 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Trustmark by 24.1% during the 3rd quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 267 shares in the last quarter. Institutional investors 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.