Trustmark Co. (NASDAQ:TRMK) Receives $39.80 Consensus Price Target from Brokerages

Shares of Trustmark Co. (NASDAQ:TRMK) have received an average rating of “Hold” from the five analysts that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $39.80.

TRMK has been the subject of several research reports. Janney Montgomery Scott initiated coverage on shares of Trustmark in a research report on Friday, January 24th. They issued a “buy” rating and a $42.00 price target for the company. DA Davidson lifted their price objective on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods cut their price target on Trustmark from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, Hovde Group lifted their price target on Trustmark from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, April 28th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Trustmark by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider’s stock worth $236,493,000 after purchasing an additional 30,057 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Trustmark by 34.2% in the 1st quarter. Wellington Management Group LLP now owns 3,318,799 shares of the financial services provider’s stock worth $114,465,000 after buying an additional 846,238 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Trustmark by 11.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 993,941 shares of the financial services provider’s stock worth $34,281,000 after buying an additional 99,134 shares during the last quarter. Northern Trust Corp boosted its position in Trustmark by 5.0% in the fourth quarter. Northern Trust Corp now owns 808,844 shares of the financial services provider’s stock worth $28,609,000 after purchasing an additional 38,594 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Trustmark by 6.8% in the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock worth $19,059,000 after purchasing an additional 37,989 shares during the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark Trading Down 0.1%

Shares of Trustmark stock opened at $35.97 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark has a 52 week low of $27.42 and a 52 week high of $40.73. The stock has a 50 day moving average price of $33.80 and a two-hundred day moving average price of $35.72. The stock has a market capitalization of $2.18 billion, a PE ratio of 9.88 and a beta of 0.63.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. The business had revenue of $231.83 million during the quarter, compared to the consensus estimate of $195.38 million. As a group, equities analysts anticipate that Trustmark will post 3.42 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, May 30th. Trustmark’s dividend payout ratio is 25.00%.

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 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.