Zacks Investment Research upgraded shares of Trustmark Corp. (NASDAQ:TRMK) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $31.00 target price on the financial services provider’s stock.
According to Zacks, “Trustmark Corporation is a multi-bank holding company. Its primary business activities are conducted through its wholly-owned subsidiary, Trustmark National Bank and Trustmark National Bank’s wholly-owned nonbanking subsidiaries, Trustmark Financial Services, Inc. and Trustmark Insurance Agency, Inc. Trustmark National Bank accounts for substantially all of the assets and revenues of the company. “
Other equities analysts have also recently issued research reports about the company. Jefferies Group increased their target price on Trustmark Corp. from $25.00 to $26.00 and gave the stock a hold rating in a report on Thursday, July 28th. SunTrust Banks Inc. increased their target price on Trustmark Corp. from $24.00 to $25.00 and gave the stock a neutral rating in a report on Thursday, June 9th. Finally, Keefe, Bruyette & Woods upgraded Trustmark Corp. from an underperform rating to a market perform rating and increased their target price for the stock from $23.00 to $25.00 in a report on Thursday, July 28th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Trustmark Corp. currently has an average rating of Hold and an average price target of $26.75.
Trustmark Corp. (NASDAQ:TRMK) opened at 27.27 on Wednesday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 17.59 and a beta of 1.13. The company’s 50-day moving average price is $27.76 and its 200 day moving average price is $25.30. Trustmark Corp. has a 52 week low of $19.75 and a 52 week high of $28.71.
Trustmark Corp. (NASDAQ:TRMK) last released its earnings results on Tuesday, July 26th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.02. Trustmark Corp. had a return on equity of 7.47% and a net margin of 17.44%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, analysts predict that Trustmark Corp. will post $1.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Tuesday, August 30th. Trustmark Corp.’s payout ratio is 59.36%.
Several institutional investors have recently made changes to their positions in TRMK. Public Employees Retirement System of Ohio boosted its position in shares of Trustmark Corp. by 1.9% in the second quarter. Public Employees Retirement System of Ohio now owns 4,426 shares of the financial services provider’s stock valued at $110,000 after buying an additional 82 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Trustmark Corp. during the second quarter valued at about $203,000. Keel Point LLC purchased a new stake in shares of Trustmark Corp. during the second quarter valued at about $210,000. Connable Office Inc. purchased a new stake in shares of Trustmark Corp. during the second quarter valued at about $215,000. Finally, Amalgamated Bank purchased a new stake in shares of Trustmark Corp. during the second quarter valued at about $224,000. Institutional investors own 61.26% of the company’s stock.
About Trustmark Corp.
Trustmark Corporation (Trustmark) is a bank holding company. Trustmark’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through approximately 205 offices in Alabama, Florida, Mississippi, Tennessee and Texas.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Trustmark Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trustmark Corp. and related companies with MarketBeat.com's FREE daily email newsletter.