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

Trustmark Co. (NASDAQ:TRMK) has been assigned an average rating of “Hold” from the four analysts that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $32.75.

TRMK has been the subject of a number of analyst reports. Piper Sandler reissued a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a report on Tuesday, March 26th. Keefe, Bruyette & Woods raised Trustmark from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $30.00 to $36.00 in a report on Thursday, April 25th. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. DA Davidson lifted their price target on Trustmark from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, Truist Financial boosted their price objective on Trustmark from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, April 26th.

Hedge Funds Weigh In On Trustmark

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after buying an additional 351 shares during the period. Comerica Bank boosted its position in Trustmark by 18.7% during the 1st quarter. Comerica Bank now owns 34,013 shares of the financial services provider’s stock worth $956,000 after acquiring an additional 5,360 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in Trustmark during the 1st quarter worth approximately $2,604,000. Price T Rowe Associates Inc. MD boosted its position in Trustmark by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,070 shares of the financial services provider’s stock worth $1,296,000 after acquiring an additional 2,109 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Trustmark during the 1st quarter worth approximately $52,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Trading Up 0.7 %

Shares of Trustmark stock opened at $29.91 on Wednesday. Trustmark has a 1 year low of $18.96 and a 1 year high of $31.23. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $29.48 and its 200-day simple moving average is $27.89. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 11.64 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. The firm had revenue of $288.55 million for the quarter, compared to the consensus estimate of $187.03 million. During the same quarter in the previous year, the company earned $0.82 earnings per share. As a group, sell-side analysts expect that Trustmark will post 2.77 EPS for the current year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were given a dividend of $0.23 per share. The ex-dividend date was Friday, May 31st. This represents a $0.92 annualized dividend and a dividend yield of 3.08%. Trustmark’s payout ratio is currently 35.80%.

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.