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

Trustmark Corporation (NASDAQ:TRMK) has been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $46.1250.

A number of analysts have issued reports on the company. Wall Street Zen raised Trustmark from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Piper Sandler boosted their price target on shares of Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Finally, DA Davidson lifted their price objective on shares of Trustmark from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th.

Trustmark Trading Up 0.0%

NASDAQ:TRMK opened at $48.29 on Monday. 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 business has a fifty day moving average price of $46.45 and a 200-day moving average price of $44.51. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 12.26 and a beta of 0.65. Trustmark has a one year low of $36.33 and a one year high of $49.00.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. The company had revenue of $213.38 million for the quarter, compared to analysts’ expectations of $210.30 million. During the same quarter in the previous year, the company earned $0.92 EPS. Trustmark’s revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts forecast that Trustmark will post 3.93 EPS for the current year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 1st. Trustmark’s payout ratio is presently 25.38%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TRMK. Rockefeller Capital Management L.P. grew its stake in Trustmark by 1,129.0% in the 4th 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. purchased a new position in shares of Trustmark during the fourth quarter worth approximately $36,000. EverSource Wealth Advisors LLC raised its stake in shares of Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,022 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Trustmark during the fourth quarter valued at approximately $55,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Trustmark during the second quarter valued at approximately $63,000. Hedge funds and other 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.