Trustmark Co. (NASDAQ:TRMK) Receives Consensus Recommendation of “Hold” from Brokerages

Trustmark Co. (NASDAQ:TRMK) has been assigned a consensus rating of “Hold” from the four analysts that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $34.50.

Several analysts have recently issued reports on TRMK shares. Truist Financial reduced their price objective on Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. DA Davidson upped their target price on shares of Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Tuesday.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP acquired a new position in Trustmark in the fourth quarter valued at $12,572,000. Verition Fund Management LLC acquired a new position in shares of Trustmark in the 4th quarter valued at approximately $5,611,000. American Century Companies Inc. increased its holdings in Trustmark by 25.3% in the second quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock valued at $29,629,000 after buying an additional 199,245 shares during the last quarter. Stieven Capital Advisors L.P. grew its position in shares of Trustmark by 57.2% during the 1st quarter. Stieven Capital Advisors L.P. now owns 503,000 shares of the financial services provider’s stock valued at $14,139,000 after buying an additional 183,100 shares during the last quarter. Finally, Hanson & Doremus Investment Management bought a new position in shares of Trustmark during the second quarter valued at approximately $4,199,000. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark Stock Performance

NASDAQ:TRMK opened at $31.13 on Friday. Trustmark has a twelve month low of $18.96 and a twelve month high of $35.72. The company has a market capitalization of $1.91 billion, a P/E ratio of 12.11 and a beta of 0.74. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $32.29 and a two-hundred day moving average price of $30.22.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $283.96 million during the quarter, compared to the consensus estimate of $229.83 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same period in the previous year, the firm posted $0.74 EPS. As a group, research analysts expect that Trustmark will post 2.92 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.96%. The ex-dividend date was Friday, August 30th. Trustmark’s dividend payout ratio (DPR) is 35.80%.

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.