Trustmark Co. (NASDAQ:TRMK) Receives $29.67 Average Target Price from Brokerages

Shares of Trustmark Co. (NASDAQ:TRMK) have been assigned an average recommendation of “Hold” from the four analysts that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating. The average 12-month target price among analysts that have issued a report on the stock in the last year is $29.67.

TRMK has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price target on shares of Trustmark from $27.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Piper Sandler reiterated a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a research note on Tuesday, March 26th. TheStreet raised shares of Trustmark from a “c+” rating to a “b” rating in a report on Tuesday, January 23rd. Truist Financial raised their price objective on shares of Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, April 1st. Finally, StockNews.com cut shares of Trustmark from a “hold” rating to a “sell” rating in a report on Thursday, April 11th.

Hedge Funds Weigh In On Trustmark

Hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in Trustmark in the third quarter valued at about $28,000. Coppell Advisory Solutions Corp. bought a new stake in Trustmark during the fourth quarter worth $43,000. Tower Research Capital LLC TRC grew its holdings in Trustmark by 208.2% during the first quarter. Tower Research Capital LLC TRC now owns 2,795 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,888 shares in the last quarter. Point72 Middle East FZE bought a new stake in Trustmark during the fourth quarter worth $82,000. Finally, Arlington Trust Co LLC bought a new stake in Trustmark during the fourth quarter worth $84,000. 67.64% of the stock is owned by institutional investors.

Trustmark Price Performance

NASDAQ TRMK opened at $25.63 on Friday. Trustmark has a 1 year low of $18.96 and a 1 year high of $28.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 9.46 and a beta of 0.82. The stock’s fifty day moving average price is $26.78 and its 200 day moving average price is $25.26.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Trustmark had a net margin of 15.06% and a return on equity of 10.77%. The business had revenue of $189.85 million during the quarter, compared to the consensus estimate of $187.63 million. During the same quarter last year, the firm earned $0.68 EPS. The business’s revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts forecast that Trustmark will post 2.44 earnings per share for the current year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.23 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.59%. Trustmark’s dividend payout ratio is 33.95%.

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.