Brokerages Set Trustmark Corporation (NASDAQ:TRMK) PT at $44.75

Shares of Trustmark Corporation (NASDAQ:TRMK) have received an average rating of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $44.75.

TRMK has been the subject of a number of research reports. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 price objective on shares of Trustmark in a research note on Thursday, April 9th. DA Davidson restated a “neutral” rating and set a $44.00 price objective on shares of Trustmark in a research report on Wednesday, April 29th. Piper Sandler increased their target price on Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a report on Thursday, April 30th. Finally, Weiss Ratings raised Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of Trustmark by 27.0% during the first quarter. Royal Bank of Canada now owns 22,127 shares of the financial services provider’s stock worth $764,000 after buying an additional 4,701 shares in the last quarter. AQR Capital Management LLC grew its stake in Trustmark by 230.8% in the 1st quarter. AQR Capital Management LLC now owns 97,234 shares of the financial services provider’s stock worth $3,327,000 after acquiring an additional 67,841 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Trustmark by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,217 shares of the financial services provider’s stock worth $1,249,000 after acquiring an additional 1,592 shares during the period. Millennium Management LLC raised its holdings in Trustmark by 12.4% in the 1st quarter. Millennium Management LLC now owns 197,652 shares of the financial services provider’s stock valued at $6,817,000 after acquiring an additional 21,866 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Trustmark by 17.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock valued at $16,236,000 after acquiring an additional 69,110 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Trading Down 0.6%

Shares of TRMK stock opened at $46.58 on Thursday. The stock has a market cap of $2.73 billion, a P/E ratio of 12.32 and a beta of 0.65. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Trustmark has a fifty-two week low of $36.05 and a fifty-two week high of $48.00. The business has a fifty day simple moving average of $45.13 and a 200-day simple moving average of $43.61.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. The business had revenue of $208.07 million for the quarter, compared to analyst estimates of $204.98 million. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. During the same period in the previous year, the firm earned $0.88 EPS. On average, analysts forecast that Trustmark will post 3.92 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, June 1st. Trustmark’s dividend payout ratio (DPR) is currently 26.46%.

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.