BidaskClub upgraded shares of Trustmark (NASDAQ:TRMK) from a hold rating to a buy rating in a report released on Thursday.
A number of other equities analysts have also recently weighed in on TRMK. Zacks Investment Research raised Trustmark from a sell rating to a hold rating and set a $35.00 price objective on the stock in a report on Tuesday, April 3rd. ValuEngine cut Trustmark from a buy rating to a hold rating in a report on Monday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $34.00.
Shares of NASDAQ TRMK opened at $33.82 on Thursday. The stock has a market cap of $2.30 billion, a P/E ratio of 17.61 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.78. Trustmark has a 1-year low of $28.16 and a 1-year high of $35.09.
Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.05. The company had revenue of $152.10 million for the quarter, compared to analysts’ expectations of $148.64 million. Trustmark had a return on equity of 8.67% and a net margin of 16.75%. Trustmark’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.46 EPS. equities analysts expect that Trustmark will post 2.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were paid a $0.23 dividend. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $0.92 dividend on an annualized basis and a yield of 2.72%. Trustmark’s dividend payout ratio (DPR) is currently 47.92%.
A number of institutional investors have recently made changes to their positions in TRMK. Earnest Partners LLC increased its stake in Trustmark by 10.8% in the 4th quarter. Earnest Partners LLC now owns 2,276,914 shares of the financial services provider’s stock worth $72,542,000 after purchasing an additional 221,215 shares during the period. Deutsche Bank AG increased its stake in Trustmark by 28.8% in the 4th quarter. Deutsche Bank AG now owns 356,703 shares of the financial services provider’s stock worth $11,361,000 after purchasing an additional 79,706 shares during the period. MetLife Investment Advisors LLC purchased a new position in Trustmark in the 4th quarter worth approximately $2,359,000. Eaton Vance Management purchased a new position in Trustmark in the 4th quarter worth approximately $1,943,000. Finally, Dimensional Fund Advisors LP increased its stake in Trustmark by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,305,474 shares of the financial services provider’s stock worth $165,318,000 after purchasing an additional 58,159 shares during the period. 60.99% of the stock is currently owned by institutional investors and hedge funds.
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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.
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