Trustmark Corporation (NASDAQ:TRMK) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on Trustmark, with five hold ratings, one buy, and one strong buy among seven firms. The average 12-month price target is $46.13, near the stock’s $46.06 opening price.
• Trustmark reported quarterly EPS of $0.97, slightly exceeding estimates, while revenue rose 4.8% year over year to $213.38 million. Analysts expect full-year EPS of approximately $3.93.
• The company declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 2.2% yield; institutional investors own 67.64% of outstanding shares.

Shares of Trustmark Corporation (NASDAQ:TRMK - Get Free Report) have been assigned an average recommendation of "Hold" from the seven research firms that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $46.1250.

TRMK has been the subject of a number of research reports. Wall Street Zen upgraded Trustmark from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Weiss Ratings upgraded Trustmark from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, August 14th. Piper Sandler upped their price objective on Trustmark from $45.50 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. Finally, DA Davidson increased their price objective on Trustmark from $46.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th.

Institutional Trading of Trustmark

A number of institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its position in Trustmark by 27.0% in the first quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider's stock valued at $764,000 after purchasing an additional 4,701 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Trustmark by 230.8% during the 1st quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider's stock worth $3,327,000 after buying an additional 67,841 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Trustmark by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,217 shares of the financial services provider's stock worth $1,249,000 after buying an additional 1,592 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Trustmark by 12.4% in the 1st quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider's stock valued at $6,817,000 after acquiring an additional 21,866 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Trustmark by 17.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider's stock valued at $16,236,000 after acquiring an additional 69,110 shares in the last quarter. Institutional investors own 67.64% of the company's stock.

Trustmark Stock Performance

Shares of TRMK opened at $46.06 on Friday. The firm has a market cap of $2.67 billion, a P/E ratio of 11.69 and a beta of 0.64. Trustmark has a twelve month low of $36.33 and a twelve month high of $49.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The firm's 50 day moving average price is $46.79 and its two-hundred day moving average price is $44.84.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $213.38 million during the quarter, compared to the consensus estimate of $210.30 million. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 earnings per share. On average, analysts forecast that Trustmark will post 3.93 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Trustmark's dividend payout ratio is 25.38%.

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.

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