Trustmark Corp (TRMK) Earns “Hold” Rating from Jefferies Group LLC

Jefferies Group LLC reaffirmed their hold rating on shares of Trustmark Corp (NASDAQ:TRMK) in a report published on Friday, May 5th. They currently have a $35.00 price target on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on TRMK. Zacks Investment Research raised shares of Trustmark Corp from a hold rating to a buy rating and set a $36.00 target price on the stock in a report on Tuesday, April 4th. Stephens reissued a hold rating on shares of Trustmark Corp in a report on Wednesday, April 26th. Hovde Group raised shares of Trustmark Corp from a market perform rating to an outperform rating and set a $36.00 target price on the stock in a report on Wednesday, March 22nd. Finally, Keefe, Bruyette & Woods set a $31.00 target price on shares of Trustmark Corp and gave the company a hold rating in a report on Monday, April 10th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $33.00.

Trustmark Corp (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The company had revenue of $148.46 million for the quarter, compared to analysts’ expectations of $144.60 million. Trustmark Corp had a net margin of 17.94% and a return on equity of 7.54%. During the same quarter in the previous year, the firm posted $0.40 EPS.

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The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.92 annualized dividend and a yield of 2.96%. Trustmark Corp’s dividend payout ratio (DPR) is presently 57.14%.

In related news, insider Harry M. Walker sold 7,381 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $33.53, for a total value of $247,484.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.42% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System raised its position in shares of Trustmark Corp by 0.9% in the third quarter. California State Teachers Retirement System now owns 142,752 shares of the financial services provider’s stock valued at $3,934,000 after buying an additional 1,300 shares during the period. SG Americas Securities LLC raised its position in shares of Trustmark Corp by 2.0% in the third quarter. SG Americas Securities LLC now owns 21,267 shares of the financial services provider’s stock valued at $586,000 after buying an additional 422 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Trustmark Corp by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,086,663 shares of the financial services provider’s stock valued at $57,508,000 after buying an additional 6,462 shares during the period. BlackRock Group LTD raised its position in shares of Trustmark Corp by 5.3% in the third quarter. BlackRock Group LTD now owns 134,207 shares of the financial services provider’s stock valued at $3,699,000 after buying an additional 6,761 shares during the period. Finally, LS Investment Advisors LLC raised its position in shares of Trustmark Corp by 8.4% in the third quarter. LS Investment Advisors LLC now owns 4,338 shares of the financial services provider’s stock valued at $120,000 after buying an additional 335 shares during the period. Institutional investors own 63.48% of the company’s stock.

Trustmark Corp Company Profile

Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.

12 Month Chart for NASDAQ:TRMK

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