Trustmark Corporation (NASDAQ:TRMK) Receives Average Rating of “Hold” from Brokerages

Trustmark Corporation (NASDAQ:TRMK) has received an average recommendation of “Hold” from the five research firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $41.00.

TRMK has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on Trustmark from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Wall Street Zen lowered Trustmark from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. DA Davidson increased their price target on shares of Trustmark from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Finally, Hovde Group raised their price target on shares of Trustmark from $37.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, July 24th.

Trustmark Trading Down 1.0%

NASDAQ TRMK opened at $37.46 on Thursday. Trustmark has a one year low of $29.77 and a one year high of $40.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.88. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 10.52 and a beta of 0.66. The company’s 50-day simple moving average is $36.33 and its two-hundred day simple moving average is $35.43.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. The firm had revenue of $203.44 million for the quarter, compared to the consensus estimate of $200.35 million. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. During the same period last year, the firm earned $0.66 earnings per share. Equities analysts forecast that Trustmark will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Friday, August 29th. Trustmark’s payout ratio is currently 26.97%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. LPL Financial LLC increased its holdings in Trustmark by 0.6% in the 1st quarter. LPL Financial LLC now owns 64,802 shares of the financial services provider’s stock worth $2,235,000 after buying an additional 415 shares during the period. GAMMA Investing LLC increased its stake in shares of Trustmark by 23.2% in the second quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 419 shares during the period. CWM LLC raised its holdings in shares of Trustmark by 9.7% during the first quarter. CWM LLC now owns 5,655 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 502 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in Trustmark by 7.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 11,930 shares of the financial services provider’s stock valued at $422,000 after purchasing an additional 847 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Trustmark by 10.0% in the first quarter. Russell Investments Group Ltd. now owns 9,450 shares of the financial services provider’s stock valued at $326,000 after purchasing an additional 858 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

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.