Trustmark Corporation (NASDAQ:TRMK) Given Average Rating of “Moderate Buy” by Analysts

Shares of Trustmark Corporation (NASDAQ:TRMK) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $42.25.

Several equities research analysts have commented on TRMK shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, October 8th. Wall Street Zen lowered Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Finally, Zacks Research cut Trustmark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd.

Hedge Funds Weigh In On Trustmark

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings in Trustmark by 10.0% in the 1st quarter. Russell Investments Group Ltd. now owns 9,450 shares of the financial services provider’s stock valued at $326,000 after acquiring an additional 858 shares during the last quarter. Trexquant Investment LP increased its holdings in shares of Trustmark by 379.0% in the first quarter. Trexquant Investment LP now owns 125,516 shares of the financial services provider’s stock valued at $4,329,000 after purchasing an additional 99,313 shares during the last quarter. State of Wyoming purchased a new position in Trustmark during the first quarter worth approximately $52,000. Vident Advisory LLC boosted its stake in Trustmark by 31.7% during the first quarter. Vident Advisory LLC now owns 8,196 shares of the financial services provider’s stock worth $283,000 after buying an additional 1,974 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in Trustmark by 27.0% in the 1st quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider’s stock valued at $764,000 after buying an additional 4,701 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Stock Down 0.8%

Trustmark stock opened at $38.95 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.87. The stock has a market capitalization of $2.34 billion, a PE ratio of 10.64 and a beta of 0.69. The business has a 50 day simple moving average of $39.04 and a 200-day simple moving average of $38.67. Trustmark has a 12 month low of $29.77 and a 12 month high of $41.42.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $207.53 million for the quarter, compared to analyst estimates of $206.13 million. Trustmark had a return on equity of 10.90% and a net margin of 19.82%.The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 earnings per share. On average, analysts anticipate that Trustmark will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, December 1st. Trustmark’s dividend payout ratio is 26.23%.

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.