Trustmark (NASDAQ:TRMK) Sets New 12-Month High - Should You Buy?

Key Points

• Trustmark (TRMK) hit a new 52-week high of $45.66 (last $45.3560), trading above its 50-day ($43.06) and 200-day ($40.80) moving averages.
• Analysts are mixed: MarketBeat's consensus is Hold with a $44.50 target (two Buys, four Holds), while recent notes range from Brean Capital's Buy initiation to Wall Street Zen's downgrade to Sell.
• Fundamentals show a recent quarter earnings beat ($0.97 vs. $0.91), a P/E of 12.21, $2.67B market cap, and a raised quarterly dividend of $0.25 (annualized $1.00, ~2.2% yield).

Trustmark Corporation (NASDAQ:TRMK - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $45.66 and last traded at $45.3560, with a volume of 60626 shares. The stock had previously closed at $44.16.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Brean Capital started coverage on Trustmark in a research report on Thursday, March 12th. They set a "buy" rating for the company. DA Davidson upped their target price on Trustmark from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, January 29th. Wall Street Zen downgraded Trustmark from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $45.00 target price on shares of Trustmark in a research report on Thursday, April 9th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Trustmark in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $44.50.

Trustmark Price Performance

The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 12.21 and a beta of 0.65. 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 business has a 50-day simple moving average of $43.06 and a two-hundred day simple moving average of $40.80.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.06. The firm had revenue of $209.44 million during the quarter, compared to the consensus estimate of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same period in the prior year, the firm posted $0.92 earnings per share. As a group, research analysts predict that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st were issued a $0.25 dividend. This is an increase from Trustmark's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, February 27th. Trustmark's dividend payout ratio is currently 26.95%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. increased its holdings in shares of Trustmark by 7.3% in the third quarter. Federated Hermes Inc. now owns 369,109 shares of the financial services provider's stock valued at $14,617,000 after buying an additional 25,164 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of Trustmark by 544.0% in the third quarter. HB Wealth Management LLC now owns 70,211 shares of the financial services provider's stock valued at $2,780,000 after buying an additional 59,308 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Trustmark by 9.8% in the third quarter. Principal Financial Group Inc. now owns 328,925 shares of the financial services provider's stock valued at $13,025,000 after buying an additional 29,302 shares in the last quarter. Clark Capital Management Group Inc. increased its holdings in shares of Trustmark by 13.5% in the third quarter. Clark Capital Management Group Inc. now owns 352,468 shares of the financial services provider's stock valued at $13,958,000 after buying an additional 42,032 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of Trustmark by 29.3% in the third quarter. Public Sector Pension Investment Board now owns 266,557 shares of the financial services provider's stock valued at $10,556,000 after buying an additional 60,340 shares in the last quarter. Institutional investors own 67.64% of the company's stock.

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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