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

Shares of Trustmark Co. (NASDAQ:TRMK) have earned a consensus rating of “Hold” from the six analysts that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $38.67.

TRMK has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price target on shares of Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. DA Davidson boosted their price target on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Janney Montgomery Scott initiated coverage on shares of Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 price objective on the stock.

Trustmark Trading Down 0.5 %

Shares of TRMK opened at $34.54 on Monday. The company’s fifty day moving average is $36.18 and its 200 day moving average is $35.35. Trustmark has a fifty-two week low of $25.24 and a fifty-two week high of $40.73. The stock has a market capitalization of $2.10 billion, a PE ratio of 9.49 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. Sell-side analysts expect that Trustmark will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given a dividend of $0.24 per share. This is a boost from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.78%. Trustmark’s payout ratio is 26.37%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TRMK. Harbor Capital Advisors Inc. grew its holdings in shares of Trustmark by 2.4% in the third quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 415 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of Trustmark by 4.7% in the fourth quarter. AlphaQuest LLC now owns 10,157 shares of the financial services provider’s stock worth $359,000 after purchasing an additional 456 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of Trustmark by 0.7% in the fourth quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider’s stock worth $2,640,000 after purchasing an additional 528 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Trustmark by 1.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider’s stock worth $1,920,000 after purchasing an additional 528 shares during the last quarter. Finally, Element Wealth LLC grew its holdings in shares of Trustmark by 6.3% in the fourth quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 533 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

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 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.