Trustmark Co. (NASDAQ:TRMK) Given Average Rating of “Hold” by Brokerages

Shares of Trustmark Co. (NASDAQ:TRMK) have earned an average recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $40.60.

Several equities analysts have issued reports on TRMK shares. Janney Montgomery Scott assumed coverage on Trustmark in a report on Friday, January 24th. They set a “buy” rating and a $42.00 price objective on the stock. DA Davidson lifted their price target on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd.

Trustmark Price Performance

Shares of NASDAQ TRMK opened at $35.15 on Friday. The stock’s 50-day simple moving average is $36.00 and its 200-day simple moving average is $35.52. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $2.14 billion, a PE ratio of 9.66 and a beta of 0.71. Trustmark has a fifty-two week low of $25.41 and a fifty-two week high of $40.73.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. As a group, equities research analysts forecast that Trustmark will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.73%. This is an increase from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio (DPR) is presently 26.37%.

Hedge Funds Weigh In On Trustmark

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRMK. Vanguard Group Inc. boosted its stake in shares of Trustmark by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider’s stock valued at $236,493,000 after buying an additional 30,057 shares in the last quarter. State Street Corp lifted its holdings in Trustmark by 0.8% in the third quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock valued at $98,355,000 after acquiring an additional 24,450 shares during the period. Wellington Management Group LLP boosted its position in shares of Trustmark by 82.2% during the 4th quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider’s stock worth $87,454,000 after purchasing an additional 1,115,708 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Trustmark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after purchasing an additional 15,627 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Trustmark by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider’s stock valued at $31,649,000 after purchasing an additional 6,683 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

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.