Trustmark Co. (NASDAQ:TRMK) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Trustmark Co. (NASDAQ:TRMK) have been given an average rating of “Hold” by the six research firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $38.67.

Several brokerages have commented on TRMK. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Janney Montgomery Scott assumed coverage on Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 price objective for the company. Hovde Group increased their target price on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their target price on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, DA Davidson increased their price target on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th.

Insider Buying and Selling

In other Trustmark news, Director Gerard R. Host sold 7,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the completion of the transaction, the director now owns 16,500 shares in the company, valued at approximately $636,735. This represents a 29.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. GoalVest Advisory LLC bought a new stake in Trustmark in the 3rd quarter valued at approximately $63,000. nVerses Capital LLC bought a new stake in shares of Trustmark in the third quarter worth $67,000. KBC Group NV boosted its holdings in Trustmark by 43.0% during the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 951 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Trustmark in the third quarter valued at $130,000. Finally, Blue Trust Inc. increased its stake in Trustmark by 225.2% in the 3rd quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock valued at $149,000 after buying an additional 3,430 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.

Trustmark Price Performance

Trustmark stock opened at $38.35 on Thursday. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 10.54 and a beta of 0.76. Trustmark has a 12-month low of $25.24 and a 12-month high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The business’s 50-day simple moving average is $36.34 and its 200 day simple moving average is $34.73.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating 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, research analysts anticipate that Trustmark will post 3.4 earnings per share for the current year.

Trustmark Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s payout ratio is 26.37%.

Trustmark Company Profile

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.