Trustmark (NASDAQ:TRMK) Sets New 1-Year High – Still a Buy?

Trustmark Corporation (NASDAQ:TRMK) reached a new 52-week high during trading on Friday . The company traded as high as $46.02 and last traded at $45.9020, with a volume of 84122 shares trading hands. The stock had previously closed at $45.41.

Analysts Set New Price Targets

A number of research firms recently weighed in on TRMK. Brean Capital began coverage on Trustmark in a research note on Thursday, March 12th. They set a “buy” rating on the stock. Wall Street Zen raised Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. DA Davidson reissued a “neutral” rating and set a $44.00 price objective on shares of Trustmark in a report on Wednesday, April 29th. Weiss Ratings upgraded Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $45.00 target price on shares of Trustmark in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.75.

Trustmark Trading Up 0.7%

The firm has a market cap of $2.68 billion, a P/E ratio of 12.11 and a beta of 0.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. The stock has a 50 day moving average of $44.27 and a 200 day moving average of $42.44.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The firm had revenue of $208.07 million for the quarter, compared to analysts’ expectations of $204.98 million. During the same period last year, the firm earned $0.88 earnings per share. As a group, equities research analysts predict that Trustmark Corporation will post 3.92 EPS for the current year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, June 1st. Trustmark’s dividend payout ratio (DPR) is 26.46%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TRMK. North Reef Capital Management LP bought a new position in shares of Trustmark during the first quarter valued at about $82,296,000. UBS Group AG grew its stake in shares of Trustmark by 282.0% during the fourth quarter. UBS Group AG now owns 640,419 shares of the financial services provider’s stock valued at $24,944,000 after buying an additional 472,751 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Trustmark by 8.9% during the third quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after buying an additional 316,851 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Trustmark by 156.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 389,333 shares of the financial services provider’s stock valued at $15,165,000 after buying an additional 237,266 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Trustmark by 121.1% during the first quarter. Bank of America Corp DE now owns 316,772 shares of the financial services provider’s stock valued at $13,349,000 after buying an additional 173,486 shares during the last quarter. 67.64% of the stock is owned by institutional investors.

Trustmark Company Profile

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.