Trustmark Co. (NASDAQ:TRMK) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Trustmark Co. (NASDAQ:TRMK) have been given a consensus rating of “Hold” by the five brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $39.80.

Several equities research analysts recently issued reports on TRMK shares. Hovde Group raised their price objective on shares of Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday. DA Davidson increased their price objective on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reduced their target price on Trustmark from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Finally, Janney Montgomery Scott assumed coverage on Trustmark in a report on Friday, January 24th. They set a “buy” rating and a $42.00 price target for the company.

Institutional Investors Weigh In On Trustmark

Several institutional investors and hedge funds have recently modified their holdings of TRMK. Wellington Management Group LLP grew its position in Trustmark by 82.2% in the 4th quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider’s stock valued at $87,454,000 after acquiring an additional 1,115,708 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Trustmark by 176.2% in the fourth quarter. JPMorgan Chase & Co. now owns 339,662 shares of the financial services provider’s stock valued at $12,014,000 after purchasing an additional 216,706 shares during the period. Trustmark National Bank Trust Department grew its holdings in shares of Trustmark by 129.6% in the fourth quarter. Trustmark National Bank Trust Department now owns 299,423 shares of the financial services provider’s stock valued at $10,591,000 after purchasing an additional 169,011 shares in the last quarter. Norges Bank purchased a new stake in Trustmark during the 4th quarter worth approximately $5,704,000. Finally, Millennium Management LLC lifted its holdings in Trustmark by 112.1% during the 4th quarter. Millennium Management LLC now owns 175,786 shares of the financial services provider’s stock worth $6,218,000 after buying an additional 92,890 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Trading Up 1.0 %

Shares of Trustmark stock opened at $33.68 on Tuesday. Trustmark has a 1-year low of $27.42 and a 1-year high of $40.73. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market cap of $2.05 billion, a P/E ratio of 9.25 and a beta of 0.67. The stock’s 50 day simple moving average is $33.88 and its 200-day simple moving average is $35.66.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. The company had revenue of $231.83 million for the quarter, compared to analyst estimates of $195.38 million. Analysts predict that Trustmark will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 2.85%. Trustmark’s dividend payout ratio is currently 25.00%.

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.