Trustmark Co. (NASDAQ:TRMK) Receives Average Recommendation of “Hold” from Brokerages

Trustmark Co. (NASDAQ:TRMK) has received an average rating of “Hold” from the four brokerages that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $34.50.

TRMK has been the subject of several analyst reports. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Tuesday. DA Davidson upped their price target on Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, Truist Financial lowered their price objective on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, September 20th.

Trustmark Price Performance

TRMK stock opened at $31.13 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.91 billion, a P/E ratio of 12.11 and a beta of 0.74. The business has a 50 day simple moving average of $32.29 and a 200-day simple moving average of $30.22. Trustmark has a twelve month low of $18.96 and a twelve month high of $35.72.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. The company had revenue of $283.96 million for the quarter, compared to the consensus estimate of $229.83 million. During the same period last year, the firm posted $0.74 EPS. As a group, equities analysts anticipate that Trustmark will post 2.92 EPS for the current year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.96%. Trustmark’s payout ratio is currently 35.80%.

Hedge Funds Weigh In On Trustmark

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in Trustmark by 62.1% during the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after buying an additional 351 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Trustmark during the 1st quarter worth approximately $52,000. Innealta Capital LLC acquired a new stake in shares of Trustmark in the 2nd quarter worth approximately $61,000. CWM LLC increased its stake in Trustmark by 14.6% in the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 611 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new position in Trustmark during the second quarter worth $238,000. Hedge funds and other institutional investors 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.