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

Shares of Trustmark Corporation (NASDAQ:TRMK - Get Free Report) have been assigned an average rating of "Hold" from the five research firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $39.80.

TRMK has been the topic of several research analyst reports. Wall Street Zen cut Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Keefe, Bruyette & Woods lowered their target price on Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Hovde Group lifted their target price on Trustmark from $36.00 to $37.00 and gave the company a "market perform" rating in a research note on Monday, April 28th.

Trustmark Trading Up 1.1%

Shares of TRMK opened at $38.59 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark has a 1-year low of $28.76 and a 1-year high of $40.73. The business's 50-day moving average price is $35.17 and its 200 day moving average price is $35.04. The stock has a market capitalization of $2.33 billion, a P/E ratio of 10.05 and a beta of 0.66.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. Trustmark had a return on equity of 10.29% and a net margin of 20.73%. The company had revenue of $231.83 million for the quarter, compared to analysts' expectations of $195.38 million. Analysts expect that Trustmark will post 3.42 earnings per share for the current year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were paid a $0.24 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 2.49%. Trustmark's payout ratio is 25.00%.

Institutional Investors Weigh In On Trustmark

Several large investors have recently made changes to their positions in the company. LPL Financial LLC grew its stake in shares of Trustmark by 0.6% in the 1st quarter. LPL Financial LLC now owns 64,802 shares of the financial services provider's stock valued at $2,235,000 after buying an additional 415 shares in the last quarter. AlphaQuest LLC boosted its position in Trustmark by 4.7% during the fourth quarter. AlphaQuest LLC now owns 10,157 shares of the financial services provider's stock worth $359,000 after purchasing an additional 456 shares during the period. CWM LLC boosted its position in Trustmark by 9.7% during the first quarter. CWM LLC now owns 5,655 shares of the financial services provider's stock worth $195,000 after purchasing an additional 502 shares during the period. GAMMA Investing LLC boosted its position in Trustmark by 41.0% during the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock worth $62,000 after purchasing an additional 526 shares during the period. Finally, Swiss National Bank boosted its position in Trustmark by 0.7% during the fourth quarter. Swiss National Bank now owns 114,400 shares of the financial services provider's stock worth $4,046,000 after purchasing an additional 800 shares during the period. Institutional investors own 67.64% of the company's stock.

Trustmark Company Profile

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.

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