Trustmark Co. (NASDAQ:TRMK) Given Consensus Rating of “Hold” by Analysts

Shares of Trustmark Co. (NASDAQ:TRMK) have received a consensus rating of “Hold” from the four ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month 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 several recent research reports. Truist Financial upped their target price on Trustmark from $30.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 26th. TheStreet raised shares of Trustmark from a “c+” rating to a “b” rating in a report on Tuesday, January 23rd. Piper Sandler reissued a “neutral” rating and set a $29.00 target price on shares of Trustmark in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and raised their price target for the company from $30.00 to $36.00 in a research note on Thursday, April 25th. Finally, StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, April 27th.

Trustmark Price Performance

Shares of NASDAQ TRMK opened at $30.71 on Tuesday. 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 has a market capitalization of $1.88 billion, a price-to-earnings ratio of 11.95 and a beta of 0.78. Trustmark has a twelve month low of $18.96 and a twelve month high of $31.23. The business has a 50 day simple moving average of $27.30 and a 200-day simple moving average of $25.98.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) 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 company had revenue of $288.55 million for the quarter, compared to the consensus estimate of $187.03 million. During the same period last year, the firm posted $0.82 EPS. As a group, equities research analysts expect that Trustmark will post 2.77 earnings per share for the current year.

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, May 31st. Trustmark’s payout ratio is currently 35.80%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TRMK. Ignite Planners LLC lifted its holdings in shares of Trustmark by 924.4% during the fourth quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock valued at $3,961,000 after purchasing an additional 128,623 shares during the last quarter. Trexquant Investment LP lifted its position in shares of Trustmark by 235.7% in the 3rd quarter. Trexquant Investment LP now owns 87,162 shares of the financial services provider’s stock valued at $1,894,000 after acquiring an additional 61,194 shares in the last quarter. American Century Companies Inc. boosted its stake in Trustmark by 28.8% in the 3rd quarter. American Century Companies Inc. now owns 372,172 shares of the financial services provider’s stock worth $8,087,000 after purchasing an additional 83,181 shares during the period. MQS Management LLC purchased a new position in Trustmark during the 3rd quarter worth approximately $283,000. Finally, Envestnet Asset Management Inc. raised its stake in Trustmark by 244.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock valued at $3,825,000 after purchasing an additional 124,890 shares during the period. Institutional investors own 67.64% of the company’s stock.

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.