Trustmark Corp (NASDAQ:TRMK) Receives Average Rating of “Hold” from Analysts

Trustmark Corp (NASDAQ:TRMK) has received an average rating of “Hold” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $32.33.

Several brokerages have weighed in on TRMK. BidaskClub upgraded Trustmark from a “strong sell” rating to a “sell” rating in a report on Saturday. Zacks Investment Research upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Stephens reiterated a “hold” rating and issued a $32.00 target price on shares of Trustmark in a report on Wednesday, April 24th.

Several hedge funds have recently modified their holdings of TRMK. Bremer Bank National Association purchased a new stake in shares of Trustmark in the 1st quarter worth $36,000. Quadrant Capital Group LLC lifted its holdings in shares of Trustmark by 509.5% in the 1st quarter. Quadrant Capital Group LLC now owns 1,414 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,182 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Trustmark in the 2nd quarter worth $49,000. Strs Ohio lifted its holdings in shares of Trustmark by 77.8% in the 1st quarter. Strs Ohio now owns 1,600 shares of the financial services provider’s stock worth $53,000 after buying an additional 700 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Trustmark in the 1st quarter worth $58,000. Institutional investors and hedge funds own 67.39% of the company’s stock.

TRMK traded down $0.19 during trading hours on Wednesday, reaching $35.51. 19,325 shares of the company’s stock traded hands, compared to its average volume of 268,465. The company’s 50-day moving average price is $33.03. Trustmark has a 52-week low of $26.84 and a 52-week high of $36.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.84 and a quick ratio of 0.82. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 16.07 and a beta of 1.09.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.08. Trustmark had a return on equity of 9.28% and a net margin of 21.20%. The company had revenue of $157.40 million during the quarter, compared to analysts’ expectations of $156.35 million. During the same quarter in the previous year, the business earned $0.59 EPS. Sell-side analysts forecast that Trustmark will post 2.32 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, August 29th. Trustmark’s dividend payout ratio is 41.63%.

About Trustmark

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; financing for commercial and industrial projects, income producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit.

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