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

Key Points

• Trustmark Corporation has received a consensus recommendation of "Hold" from analysts, with three holding and two buying ratings, and an average 12-month price target of $41.00.
• The company reported earnings of $0.92 per share for the last quarter, exceeding analyst expectations, and projected earnings of $3.42 per share for the current fiscal year.
• Trustmark announced a quarterly dividend of $0.24 per share, reflecting a 2.56% yield and a payout ratio of approximately 27%.

Shares of Trustmark Corporation (NASDAQ:TRMK - Get Free Report) have been assigned a consensus rating of "Hold" from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $41.00.

TRMK has been the topic of a number of recent research reports. DA Davidson lifted their target price on Trustmark from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wall Street Zen cut Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Hovde Group upped their price objective on shares of Trustmark from $37.00 to $41.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Thursday, April 24th.

Trustmark Price Performance

Shares of Trustmark stock traded down $0.69 during trading on Thursday, hitting $36.56. The stock had a trading volume of 419,302 shares, compared to its average volume of 306,981. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86. The business has a fifty day moving average of $36.42 and a two-hundred day moving average of $35.47. Trustmark has a fifty-two week low of $29.77 and a fifty-two week high of $40.73. The firm has a market cap of $2.21 billion, a P/E ratio of 10.27 and a beta of 0.70.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.06. The firm had revenue of $203.44 million during the quarter, compared to analysts' expectations of $200.35 million. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. During the same period last year, the firm posted $0.66 earnings per share. On average, sell-side analysts expect that Trustmark will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, August 29th. Trustmark's payout ratio is 26.97%.

Institutional Trading of Trustmark

A number of hedge funds have recently made changes to their positions in TRMK. LPL Financial LLC grew its position in Trustmark by 0.6% during the first quarter. LPL Financial LLC now owns 64,802 shares of the financial services provider's stock valued at $2,235,000 after purchasing an additional 415 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Trustmark by 23.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider's stock valued at $81,000 after buying an additional 419 shares during the period. CWM LLC grew its holdings in shares of Trustmark by 9.7% during the 1st quarter. CWM LLC now owns 5,655 shares of the financial services provider's stock valued at $195,000 after acquiring an additional 502 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of Trustmark by 7.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 11,930 shares of the financial services provider's stock worth $422,000 after acquiring an additional 847 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Trustmark by 10.0% during the first quarter. Russell Investments Group Ltd. now owns 9,450 shares of the financial services provider's stock worth $326,000 after acquiring an additional 858 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

About Trustmark

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.