Trustmark Co. (NASDAQ:TRMK) Given Consensus Rating of "Hold" by Brokerages

Trustmark Co. (NASDAQ:TRMK - Get Free Report) has received an average recommendation of "Hold" from the five brokerages that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $40.60.

TRMK has been the topic of a number of research reports. DA Davidson upped their price target on Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Janney Montgomery Scott began coverage on Trustmark in a research report on Friday, January 24th. They set a "buy" rating and a $42.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised their price target on Trustmark from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd.

Hedge Funds Weigh In On Trustmark

Several institutional investors and hedge funds have recently modified their holdings of TRMK. Wellington Management Group LLP grew its position in Trustmark by 82.2% during the fourth quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider's stock valued at $87,454,000 after acquiring an additional 1,115,708 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in shares of Trustmark during the 4th quarter worth about $82,000. Wealth Enhancement Advisory Services LLC purchased a new position in Trustmark in the fourth quarter valued at approximately $212,000. Public Employees Retirement System of Ohio raised its holdings in Trustmark by 165.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider's stock valued at $116,000 after buying an additional 2,051 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Trustmark by 18.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 126,552 shares of the financial services provider's stock worth $4,476,000 after buying an additional 19,482 shares during the period. Hedge funds and other institutional investors own 67.64% of the company's stock.

Trustmark Price Performance

Trustmark stock traded up $0.19 during midday trading on Friday, reaching $34.49. The company's stock had a trading volume of 275,493 shares, compared to its average volume of 289,147. The firm has a market capitalization of $2.10 billion, a PE ratio of 9.48 and a beta of 0.71. Trustmark has a fifty-two week low of $25.41 and a fifty-two week high of $40.73. The stock's 50 day simple moving average is $35.97 and its 200 day simple moving average is $35.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. On average, equities research analysts forecast that Trustmark will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Trustmark's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.78%. Trustmark's payout ratio is 26.37%.

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.