Trustmark (NASDAQ:TRMK - Get Free Report) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.06, Zacks reports. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. The firm had revenue of $203.44 million during the quarter, compared to analysts' expectations of $200.35 million. During the same period last year, the company earned $0.66 earnings per share.
Trustmark Stock Performance
Shares of TRMK traded up $0.08 during mid-day trading on Friday, hitting $38.67. The stock had a trading volume of 272,197 shares, compared to its average volume of 356,430. The firm has a market cap of $2.34 billion, a P/E ratio of 10.86 and a beta of 0.66. The business has a fifty day moving average price of $36.19 and a 200-day moving average price of $35.35. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86. Trustmark has a 52 week low of $29.77 and a 52 week high of $40.73.
Trustmark Announces Dividend
The company 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 $0.24 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.48%. Trustmark's payout ratio is presently 26.97%.
Institutional Investors Weigh In On Trustmark
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of Trustmark by 297.4% during the first quarter. Jane Street Group LLC now owns 124,875 shares of the financial services provider's stock valued at $4,307,000 after buying an additional 93,449 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Trustmark by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider's stock worth $16,236,000 after purchasing an additional 69,110 shares during the period. AQR Capital Management LLC increased its holdings in shares of Trustmark by 230.8% in the first quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider's stock worth $3,327,000 after purchasing an additional 67,841 shares during the period. Millennium Management LLC increased its stake in Trustmark by 12.4% in the 1st quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider's stock worth $6,817,000 after acquiring an additional 21,866 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Trustmark by 43.7% in the 1st quarter. Intech Investment Management LLC now owns 50,496 shares of the financial services provider's stock worth $1,742,000 after acquiring an additional 15,355 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages recently issued reports on TRMK. Hovde Group upped their price target on Trustmark from $37.00 to $41.00 and gave the stock a "market perform" rating in a report on Thursday. Keefe, Bruyette & Woods cut their price target on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. DA Davidson increased their price objective on shares of Trustmark from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Wall Street Zen downgraded Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $41.00.
View Our Latest Stock Analysis on TRMK
About Trustmark
(
Get Free Report)
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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