Trustmark Corporation (NASDAQ:TRMK) Given Average Rating of “Hold” by Analysts

Shares of Trustmark Corporation (NASDAQ:TRMK) have been given a consensus rating of “Hold” by the seven analysts that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $44.75.

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 price objective on shares of Trustmark in a report on Thursday, April 9th. DA Davidson reissued a “neutral” rating and set a $44.00 price objective on shares of Trustmark in a report on Wednesday, April 29th. Brean Capital assumed coverage on shares of Trustmark in a report on Thursday, March 12th. They set a “buy” rating for the company. Piper Sandler raised their price objective on shares of Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada grew its holdings in shares of Trustmark by 27.0% during the first quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider’s stock valued at $764,000 after purchasing an additional 4,701 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Trustmark by 230.8% during the first quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider’s stock valued at $3,327,000 after purchasing an additional 67,841 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Trustmark by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,217 shares of the financial services provider’s stock valued at $1,249,000 after purchasing an additional 1,592 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Trustmark by 12.4% during the first quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider’s stock valued at $6,817,000 after purchasing an additional 21,866 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Trustmark by 17.2% during the first quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock valued at $16,236,000 after purchasing an additional 69,110 shares during the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Price Performance

TRMK opened at $46.59 on Friday. The company has a fifty day simple moving average of $44.60 and a 200 day simple moving average of $42.91. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 12.33 and a beta of 0.65. Trustmark has a twelve month low of $35.96 and a twelve month high of $46.76. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. The company had revenue of $208.07 million during the quarter, compared to analyst estimates of $204.98 million. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. During the same period last year, the business earned $0.88 EPS. Equities research analysts expect that Trustmark will post 3.92 EPS for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. Trustmark’s payout ratio is 26.46%.

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.