Trustmark Corporation (NASDAQ:TRMK) Receives Consensus Rating of "Hold" from Analysts

Trustmark Corporation (NASDAQ:TRMK - Get Free Report) has received an average recommendation of "Hold" from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $44.75.

A number of equities research analysts have recently commented on TRMK shares. Piper Sandler raised their target price on Trustmark from $44.00 to $45.50 and gave the company a "neutral" rating in a research report on Thursday. Wall Street Zen upgraded Trustmark from a "sell" rating to a "hold" rating in a research report on Saturday. Brean Capital started coverage on Trustmark in a research report on Thursday, March 12th. They set a "buy" rating on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of Trustmark in a research report on Wednesday, January 21st. Finally, Hovde Group raised their target price on Trustmark from $42.00 to $44.50 and gave the company a "market perform" rating in a research report on Thursday, January 29th.

Trustmark Price Performance

NASDAQ:TRMK opened at $44.91 on Friday. Trustmark has a 52 week low of $33.39 and a 52 week high of $45.99. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $2.64 billion, a PE ratio of 11.88 and a beta of 0.66. The stock's 50-day moving average price is $43.15 and its 200-day moving average price is $41.18.

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

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. Trustmark's dividend payout ratio (DPR) is 26.46%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in Trustmark by 8.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider's stock valued at $153,802,000 after buying an additional 316,851 shares in the last quarter. Geode Capital Management LLC lifted its stake in Trustmark by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,491,837 shares of the financial services provider's stock valued at $58,112,000 after buying an additional 9,198 shares in the last quarter. UBS Group AG lifted its stake in Trustmark by 282.0% in the 4th quarter. UBS Group AG now owns 640,419 shares of the financial services provider's stock valued at $24,944,000 after buying an additional 472,751 shares in the last quarter. American Century Companies Inc. lifted its stake in Trustmark by 30.5% in the 3rd quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider's stock valued at $22,342,000 after buying an additional 132,023 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Trustmark by 17.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider's stock valued at $16,236,000 after buying an additional 69,110 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

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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