Trustmark Co. (NASDAQ:TRMK) Receives $38.67 Average Target Price from Brokerages

Trustmark Co. (NASDAQ:TRMK) has been given an average recommendation of “Hold” by the six research firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $38.67.

A number of research analysts recently weighed in on TRMK shares. Hovde Group raised their target price on shares of Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Janney Montgomery Scott started coverage on shares of Trustmark in a research note on Friday, January 24th. They issued a “buy” rating and a $42.00 price objective for the company. Truist Financial upped their target price on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price target on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th.

Trustmark Stock Down 2.5 %

TRMK opened at $37.59 on Thursday. Trustmark has a 52 week low of $25.24 and a 52 week high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm has a 50-day simple moving average of $36.27 and a two-hundred day simple moving average of $34.86. The company has a market capitalization of $2.30 billion, a PE ratio of 10.33 and a beta of 0.76.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. Analysts forecast that Trustmark will post 3.4 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a dividend of $0.24 per share. This is a boost from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.55%. Trustmark’s dividend payout ratio is currently 25.27%.

Institutional Investors Weigh In On Trustmark

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its position in shares of Trustmark by 124.7% during the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock worth $4,001,000 after purchasing an additional 69,779 shares during the last quarter. Principal Financial Group Inc. increased its stake in Trustmark by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock worth $19,059,000 after buying an additional 37,989 shares during the period. JPMorgan Chase & Co. lifted its holdings in Trustmark by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock valued at $3,912,000 after buying an additional 11,934 shares in the last quarter. State Street Corp boosted its position in Trustmark by 0.8% in the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock valued at $98,355,000 after buying an additional 24,450 shares during the period. Finally, Geode Capital Management LLC grew its stake in Trustmark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after acquiring an additional 15,627 shares in the last quarter. 67.64% of the stock is owned by institutional investors.

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.