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

Trustmark Co. (NASDAQ:TRMK) has earned an average rating of “Hold” from the five ratings firms that are presently covering the company, MarketBeat reports. Three equities research 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 brokers that have issued a report on the stock in the last year is $40.60.

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

Institutional Trading of Trustmark

A number of hedge funds and other institutional investors have recently modified their holdings of TRMK. Vanguard Group Inc. grew its holdings 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 purchasing an additional 30,057 shares during the period. State Street Corp boosted its holdings in Trustmark by 0.8% in the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock valued at $98,355,000 after purchasing an additional 24,450 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Trustmark by 82.2% in the 4th quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider’s stock valued at $87,454,000 after buying an additional 1,115,708 shares during the period. Geode Capital Management LLC increased its holdings 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 buying an additional 15,627 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Trustmark by 0.8% during 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 buying an additional 6,683 shares during the period. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Trading Up 0.1 %

Shares of NASDAQ:TRMK opened at $34.51 on Friday. The business’s 50 day moving average price is $35.97 and its 200-day moving average price is $35.62. Trustmark has a 1 year low of $25.41 and a 1 year high of $40.73. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 9.48 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data 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%. On average, equities research analysts forecast that Trustmark will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a dividend of $0.24 per share. 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 2.78%. This is a positive change 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.