Trustmark Corporation (NASDAQ:TRMK) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts rate Trustmark “Hold” on average: Five of seven analysts recommend holding the stock, while two recommend buying it. The average 12-month price target is $46.13, below its recent $47.42 price.
• Trustmark exceeded quarterly expectations, reporting $0.97 in EPS and $213.38 million in revenue, with revenue up 4.8% year over year.
• The company declared a quarterly dividend of $0.25, equivalent to $1.00 annually and a 2.1% yield; institutional investors own 67.64% of the stock.

Shares of Trustmark Corporation (NASDAQ:TRMK - Get Free Report) have received a consensus rating of "Hold" from the seven analysts that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $46.1250.

A number of research firms recently commented on TRMK. Weiss Ratings upgraded shares of Trustmark from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, June 1st. DA Davidson raised their target price on shares of Trustmark from $46.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Wall Street Zen upgraded shares of Trustmark from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, Piper Sandler upped their price target on Trustmark from $45.50 to $47.00 and gave the company a "neutral" rating in a report on Thursday, July 30th.

Institutional Investors Weigh In On Trustmark

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Trustmark during the second quarter valued at $395,920,000. Deutsche Bank AG purchased a new position in Trustmark in the 2nd quarter worth about $2,679,000. Global Retirement Partners LLC purchased a new position in Trustmark in the 2nd quarter worth about $63,000. Silverlake Wealth Management LLC acquired a new stake in Trustmark during the 2nd quarter worth about $220,000. Finally, Bank of New York Mellon Corp acquired a new stake in Trustmark during the 2nd quarter worth about $22,676,000. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Stock Performance

Shares of TRMK stock opened at $47.42 on Monday. Trustmark has a 1 year low of $36.33 and a 1 year high of $49.00. The firm has a market capitalization of $2.78 billion, a PE ratio of 12.04 and a beta of 0.65. The stock has a fifty day moving average of $46.02 and a two-hundred day moving average of $44.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. Trustmark had a net margin of 20.75% and a return on equity of 10.69%. The business had revenue of $213.38 million for the quarter, compared to analyst estimates of $210.30 million. During the same quarter last year, the business earned $0.92 earnings per share. The business's revenue for the quarter was up 4.8% on a year-over-year basis. As a group, research analysts expect that Trustmark will post 3.93 EPS for the current year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 1st. Trustmark's payout ratio is presently 25.38%.

Trustmark Company Profile

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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