Trustmark Co. (NASDAQ:TRMK) Receives $35.20 Consensus Price Target from Analysts

Shares of Trustmark Co. (NASDAQ:TRMK) have earned an average rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $35.20.

Several research firms have issued reports on TRMK. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Hovde Group upped their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. DA Davidson lifted their price target on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Truist Financial upped their price objective on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th.

Insider Activity

In other news, Director Gerard R. Host sold 26,416 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the completion of the sale, the director now owns 26,792 shares in the company, valued at $1,064,446.16. The trade was a 49.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marcelo L. Eduardo sold 790 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the transaction, the director now owns 7,334 shares in the company, valued at approximately $263,217.26. This represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,206 shares of company stock valued at $1,347,991 over the last three months. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in shares of Trustmark by 32.6% during the third quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after buying an additional 333,390 shares during the last quarter. American Century Companies Inc. grew its holdings in Trustmark by 25.3% during the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock worth $29,629,000 after acquiring an additional 199,245 shares during the period. Hanson & Doremus Investment Management bought a new stake in shares of Trustmark during the 2nd quarter valued at $4,199,000. Verition Fund Management LLC lifted its stake in shares of Trustmark by 19.8% in the 3rd quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock valued at $24,766,000 after purchasing an additional 128,834 shares during the period. Finally, Earnest Partners LLC lifted its stake in shares of Trustmark by 3.1% in the 2nd quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after purchasing an additional 102,268 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Stock Performance

NASDAQ TRMK opened at $39.11 on Friday. The stock has a market cap of $2.39 billion, a P/E ratio of 11.82 and a beta of 0.72. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. Trustmark has a twelve month low of $22.11 and a twelve month high of $40.73. The company’s 50-day simple moving average is $35.27 and its 200 day simple moving average is $32.54.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. The company had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same period in the prior year, the company posted $0.64 EPS. As a group, research analysts forecast that Trustmark will post 2.94 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.35%. Trustmark’s payout ratio is 27.79%.

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.