Trustmark Co. (NASDAQ:TRMK) Receives Consensus Rating of “Hold” from Analysts

Trustmark Co. (NASDAQ:TRMK) has been given a consensus recommendation of “Hold” by the four research firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $29.67.

Several equities research analysts have recently issued reports on TRMK shares. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Friday. Piper Sandler reiterated a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a research report on Tuesday, March 26th. Truist Financial raised their target price on shares of Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a report on Monday, April 1st. Finally, DA Davidson reissued a “neutral” rating on shares of Trustmark in a report on Monday, January 15th.

Trustmark Price Performance

NASDAQ TRMK opened at $25.73 on Friday. Trustmark has a 12 month low of $18.96 and a 12 month high of $28.65. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 9.49 and a beta of 0.82. The company’s 50 day moving average is $26.74 and its two-hundred day moving average is $25.27. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $189.85 million for the quarter, compared to analysts’ expectations of $187.63 million. Trustmark had a net margin of 15.06% and a return on equity of 10.77%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS. As a group, research analysts anticipate that Trustmark will post 2.44 earnings per share for the current year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.58%. The ex-dividend date was Thursday, February 29th. Trustmark’s payout ratio is 33.95%.

Institutional Trading of Trustmark

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Trustmark by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider’s stock valued at $187,156,000 after purchasing an additional 50,795 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Trustmark during the fourth quarter valued at $12,572,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Trustmark by 3.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 43,961 shares of the financial services provider’s stock valued at $1,226,000 after purchasing an additional 1,621 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Trustmark during the fourth quarter valued at $203,000. Finally, Legal & General Group Plc boosted its stake in shares of Trustmark by 0.3% during the fourth quarter. Legal & General Group Plc now owns 167,034 shares of the financial services provider’s stock valued at $4,657,000 after purchasing an additional 546 shares during the period. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Company Profile

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 operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; 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, as well as treasury management services.