Trustmark Corporation (NASDAQ:TRMK) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Trustmark received a “Moderate Buy” consensus from six analysts, with an average 12-month price target of $47.38. Ratings included four holds, one buy, and one strong buy.
• Trustmark’s latest quarterly results slightly exceeded expectations, with earnings of $0.97 per share and revenue of $213.38 million, up 4.8% year over year.
• The company declared a quarterly dividend of $0.25, equivalent to $1.00 annually and a 2.2% yield; institutional investors and hedge funds own 67.64% of the stock.

Trustmark Corporation (NASDAQ:TRMK - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six brokerages that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong 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 $47.38.

Several research firms recently weighed in on TRMK. Weiss Ratings raised Trustmark from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, August 14th. Piper Sandler upped their target price on Trustmark from $45.50 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. DA Davidson lifted their price target on Trustmark from $46.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Wall Street Zen upgraded Trustmark from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Finally, Keefe, Bruyette & Woods upped their price objective on Trustmark from $48.00 to $50.00 and gave the company a "market perform" rating in a research note on Wednesday, September 16th.

Trustmark Price Performance

TRMK stock opened at $46.31 on Friday. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 11.75 and a beta of 0.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. The company has a 50 day simple moving average of $45.91 and a 200 day simple moving average of $45.62. Trustmark has a 1 year low of $36.41 and a 1 year high of $49.00.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The firm had revenue of $213.38 million for the quarter, compared to analyst estimates of $210.30 million. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. The company's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share. Research analysts anticipate that Trustmark will post 3.97 EPS for the current fiscal year.

Trustmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, September 1st. Trustmark's dividend payout ratio is presently 25.38%.

Hedge Funds Weigh In On Trustmark

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its stake in Trustmark by 2.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,211 shares of the financial services provider's stock valued at $430,000 after purchasing an additional 289 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Trustmark by 23.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,657 shares of the financial services provider's stock valued at $70,000 after buying an additional 314 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of Trustmark by 3.5% in the second quarter. Baird Financial Group Inc. now owns 10,409 shares of the financial services provider's stock valued at $479,000 after buying an additional 355 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Trustmark by 14.8% in the third quarter. GAMMA Investing LLC now owns 3,905 shares of the financial services provider's stock valued at $175,000 after buying an additional 502 shares in the last quarter. Finally, Nykredit A S bought a new position in shares of Trustmark in the second quarter valued at $29,000. 67.64% of the stock is owned by institutional investors and hedge funds.

About Trustmark

Trustmark Corporation NASDAQ: TRMK is a financial services company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides banking, wealth management and insurance services to individuals, businesses and institutional clients.

Trustmark's banking activities include deposit accounts, consumer and commercial lending, mortgages, treasury management and other financial services. Its wealth management business offers trust, investment management, financial planning and related services, while its insurance operations provide personal and commercial insurance products.

Founded in 1889, Trustmark serves customers through banking and financial services operations in Mississippi, Alabama, Florida, Tennessee and Texas.

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