Trustmark Corporation (NASDAQ:TRMK) Receives Average Rating of "Hold" from Brokerages

Key Points

• Trustmark Corporation has a consensus analyst rating of “Hold”, with five hold ratings and two buy ratings among seven covering firms. The average 12-month price target is $44.75.
• The company recently reported better-than-expected quarterly earnings, posting EPS of $0.95 versus the $0.87 estimate and revenue of $208.07 million versus the $204.98 million forecast.
• Trustmark also paid a quarterly dividend of $0.25 per share, which annualizes to $1.00 and reflects a 2.1% yield. Institutional investors own 67.64% of the stock, and several funds recently increased their holdings.

Trustmark Corporation (NASDAQ:TRMK - Get Free Report) has received a consensus recommendation of "Hold" from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $44.75.

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $45.00 price objective on shares of Trustmark in a report on Thursday, April 9th. Piper Sandler raised their target price on shares of Trustmark from $44.00 to $45.50 and gave the company a "neutral" rating in a report on Thursday, April 30th. DA Davidson restated a "neutral" rating and issued a $44.00 price target on shares of Trustmark in a research report on Wednesday, April 29th. Wall Street Zen raised shares of Trustmark from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings upgraded shares of Trustmark from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, June 1st.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC bought a new stake in shares of Trustmark in the 4th quarter worth about $898,000. UBS Group AG grew its holdings in Trustmark by 282.0% during the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider's stock valued at $24,944,000 after purchasing an additional 472,751 shares during the last quarter. Horizon Investments LLC purchased a new stake in Trustmark in the 4th quarter worth about $1,185,000. Tudor Investment Corp ET AL raised its position in Trustmark by 11.6% in the 3rd quarter. Tudor Investment Corp ET AL now owns 206,748 shares of the financial services provider's stock worth $8,187,000 after purchasing an additional 21,472 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Trustmark by 62.0% in the fourth quarter. SG Americas Securities LLC now owns 36,353 shares of the financial services provider's stock worth $1,416,000 after purchasing an additional 13,909 shares during the last quarter. Institutional investors own 67.64% of the company's stock.

Trustmark Stock Up 1.1%

TRMK opened at $46.73 on Thursday. The company has a market capitalization of $2.74 billion, a PE ratio of 12.36 and a beta of 0.65. The firm has a 50-day simple moving average of $44.99 and a two-hundred day simple moving average of $43.45. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Trustmark has a 52 week low of $36.05 and a 52 week high of $47.44.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. The firm had revenue of $208.07 million for the quarter, compared to analysts' expectations of $204.98 million. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.During the same period in the previous year, the firm posted $0.88 earnings per share. Analysts forecast that Trustmark will post 3.92 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, June 1st. Trustmark's dividend payout ratio is currently 26.46%.

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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