Trustmark Corporation (NASDAQ:TRMK) Receives $44.75 Consensus Target Price from Brokerages

Shares of Trustmark Corporation (NASDAQ:TRMK) have been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $44.75.

Several analysts have recently weighed in on TRMK shares. Weiss Ratings restated a “buy (b)” rating on shares of Trustmark in a research report on Monday, May 4th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $45.00 price objective on shares of Trustmark in a research report on Thursday, April 9th. DA Davidson restated a “neutral” rating and set a $44.00 price objective on shares of Trustmark in a research report on Wednesday, April 29th. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Brean Capital began coverage on shares of Trustmark in a research report on Thursday, March 12th. They issued a “buy” rating on the stock.

Trustmark Stock Performance

Trustmark stock opened at $44.16 on Wednesday. The firm’s fifty day moving average price is $43.83 and its 200-day moving average price is $42.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The stock has a market cap of $2.59 billion, a P/E ratio of 11.68 and a beta of 0.65. Trustmark has a fifty-two week low of $33.39 and a fifty-two week high of $45.99.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. The firm had revenue of $208.07 million for the quarter, compared to analysts’ expectations of $204.98 million. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. During the same quarter last year, the company posted $0.88 EPS. On average, equities research analysts expect that Trustmark will post 3.92 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, June 1st. Trustmark’s dividend payout ratio (DPR) is presently 26.46%.

Hedge Funds Weigh In On Trustmark

A number of large investors have recently added to or reduced their stakes in the business. IFP Advisors Inc raised its position in Trustmark by 24.1% in 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 during the period. Wedge Capital Management L L P NC raised its position in Trustmark by 0.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 29,552 shares of the financial services provider’s stock worth $1,151,000 after purchasing an additional 269 shares during the period. PNC Financial Services Group Inc. raised its position in 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 purchasing an additional 289 shares during the period. Bessemer Group Inc. raised its position in Trustmark by 37.4% in the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 292 shares during the period. Finally, California State Teachers Retirement System raised its position in Trustmark by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock worth $1,955,000 after purchasing an additional 313 shares during the period. Hedge funds and other institutional investors own 67.64% of the company’s stock.

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.