Trustmark (NASDAQ:TRMK) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Trustmark (NASDAQ:TRMK – Free Report) from a sell rating to a hold rating in a report published on Saturday.

A number of other research analysts have also commented on the company. Hovde Group raised their price target on Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. DA Davidson increased their target price on shares of Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Finally, Brean Capital assumed coverage on shares of Trustmark in a research note on Thursday, March 12th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Trustmark has an average rating of “Moderate Buy” and an average target price of $43.83.

Check Out Our Latest Stock Analysis on TRMK

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $41.40 on Friday. Trustmark has a 12-month low of $29.77 and a 12-month high of $45.43. The company has a market cap of $2.44 billion, a PE ratio of 11.16 and a beta of 0.68. The stock has a 50 day simple moving average of $42.44 and a 200-day simple moving average of $40.39. 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 – Get Free Report) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. The firm had revenue of $209.44 million for the quarter, compared to analysts’ expectations of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same period last year, the firm earned $0.92 EPS. On average, equities research analysts forecast that Trustmark will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s dividend payout ratio (DPR) is presently 26.95%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV grew its holdings in Trustmark by 9.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,393 shares of the financial services provider’s stock worth $483,000 after acquiring an additional 1,090 shares during the period. EP Wealth Advisors LLC acquired a new stake in Trustmark in the 4th quarter valued at about $207,000. Empowered Funds LLC boosted its position in shares of Trustmark by 107.6% during the 4th quarter. Empowered Funds LLC now owns 245,602 shares of the financial services provider’s stock valued at $9,566,000 after purchasing an additional 127,284 shares in the last quarter. Voloridge Investment Management LLC boosted its position in shares of Trustmark by 2.8% during the 4th quarter. Voloridge Investment Management LLC now owns 114,257 shares of the financial services provider’s stock valued at $4,450,000 after purchasing an additional 3,146 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC grew its stake in shares of Trustmark by 174.7% in the 4th quarter. Susquehanna Fundamental Investments LLC now owns 23,981 shares of the financial services provider’s stock worth $934,000 after purchasing an additional 15,251 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

About Trustmark

(Get Free Report)

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.

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